Royal Bank of Canada Sells 38,518 Shares of Agilysys, Inc. $AGYS

Royal Bank of Canada decreased its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 13.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 246,588 shares of the software maker’s stock after selling 38,518 shares during the quarter. Royal Bank of Canada’s holdings in Agilysys were worth $17,541,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AGYS. ProShare Advisors LLC increased its holdings in Agilysys by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 5,023 shares of the software maker’s stock worth $597,000 after purchasing an additional 153 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Agilysys by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 14,326 shares of the software maker’s stock valued at $1,701,000 after purchasing an additional 156 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Agilysys by 30.1% in the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after purchasing an additional 159 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Agilysys by 33.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 639 shares of the software maker’s stock valued at $81,000 after buying an additional 161 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Agilysys by 4.5% during the fourth quarter. NewEdge Advisors LLC now owns 3,947 shares of the software maker’s stock valued at $469,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Stock Down 2.9%

AGYS opened at $107.58 on Friday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 71.25 and a beta of 0.37. The firm has a 50-day moving average price of $99.82 and a 200-day moving average price of $84.56. Agilysys, Inc. has a twelve month low of $61.50 and a twelve month high of $145.25.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The company had revenue of $87.68 million for the quarter, compared to analysts’ expectations of $85.97 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. Agilysys’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. On average, sell-side analysts expect that Agilysys, Inc. will post 1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on AGYS shares. Needham & Company LLC increased their price target on Agilysys from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. UBS Group set a $110.00 target price on shares of Agilysys in a report on Wednesday, June 3rd. Piper Sandler raised their price target on shares of Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.60.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.