Artisan Partners Limited Partnership Reduces Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Artisan Partners Limited Partnership lowered its position in Agilysys, Inc. (NASDAQ:AGYS) by 34.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 529,227 shares of the software maker’s stock after selling 283,854 shares during the quarter. Artisan Partners Limited Partnership owned about 1.89% of Agilysys worth $69,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in shares of Agilysys by 117.4% in the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock worth $37,000 after purchasing an additional 182 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Agilysys by 109.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock valued at $49,000 after buying an additional 193 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Agilysys by 381.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock valued at $57,000 after acquiring an additional 336 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Agilysys during the fourth quarter worth $61,000. Finally, Assetmark Inc. bought a new position in shares of Agilysys in the fourth quarter worth $115,000. 88.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Agilysys news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $130.55, for a total value of $979,125.00. Following the completion of the sale, the director now directly owns 330,576 shares of the company’s stock, valued at $43,156,696.80. The trade was a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Mutch sold 2,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $77.87, for a total transaction of $155,740.00. Following the sale, the director now owns 32,654 shares of the company’s stock, valued at approximately $2,542,766.98. The trade was a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,250 shares of company stock valued at $8,708,238 over the last 90 days. Insiders own 19.30% of the company’s stock.

Agilysys Trading Down 1.5 %

Shares of Agilysys stock opened at $75.62 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. Agilysys, Inc. has a 1 year low of $71.37 and a 1 year high of $142.64. The firm has a market cap of $2.11 billion, a PE ratio of 94.53 and a beta of 0.98. The company has a 50 day simple moving average of $84.75 and a two-hundred day simple moving average of $108.30.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The company had revenue of $69.60 million during the quarter, compared to the consensus estimate of $73.15 million. During the same period in the previous year, the firm posted $0.35 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. Analysts expect that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Oppenheimer decreased their price objective on Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Needham & Company LLC lowered their price target on shares of Agilysys from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. UBS Group set a $100.00 price objective on shares of Agilysys in a research report on Wednesday, March 5th. Craig Hallum decreased their target price on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Northland Securities raised their price target on shares of Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.50.

About Agilysys

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.