RiverPark Advisors LLC Decreases Position in Agilysys, Inc. (NASDAQ:AGYS)

RiverPark Advisors LLC lessened its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS) by 29.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,362 shares of the software maker’s stock after selling 574 shares during the quarter. RiverPark Advisors LLC’s holdings in Agilysys were worth $148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. lifted its holdings in shares of Agilysys by 4.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,589 shares of the software maker’s stock valued at $827,000 after purchasing an additional 312 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Agilysys by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker’s stock valued at $73,597,000 after purchasing an additional 2,687 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Agilysys during the 3rd quarter valued at $1,785,000. Principal Financial Group Inc. lifted its holdings in shares of Agilysys by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 115,901 shares of the software maker’s stock valued at $12,630,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Olympiad Research LP lifted its holdings in shares of Agilysys by 69.7% during the 3rd quarter. Olympiad Research LP now owns 7,268 shares of the software maker’s stock valued at $792,000 after purchasing an additional 2,985 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. BTIG Research increased their price objective on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Craig Hallum upped their target price on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Oppenheimer upped their target price on Agilysys from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Northland Securities reissued an “outperform” rating and issued a $145.00 target price (up from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. Finally, Needham & Company LLC upped their target price on Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.80.

Insiders Place Their Bets

In other news, insider Chris J. Robertson sold 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total transaction of $435,320.00. Following the sale, the insider now directly owns 22,888 shares of the company’s stock, valued at $2,490,901.04. This represents a 14.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the sale, the chief executive officer now directly owns 778,367 shares in the company, valued at approximately $85,441,345.59. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,023 shares of company stock valued at $4,548,979. Company insiders own 19.30% of the company’s stock.

Agilysys Price Performance

Shares of AGYS opened at $121.19 on Friday. The business’s 50-day moving average is $110.04 and its two-hundred day moving average is $104.34. The company has a market capitalization of $3.39 billion, a P/E ratio of 34.53 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. Agilysys, Inc. has a fifty-two week low of $73.52 and a fifty-two week high of $128.61.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.54 million. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. Research analysts predict that Agilysys, Inc. will post 0.81 earnings per share for the current year.

Agilysys Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.