Short Interest in Agilysys, Inc. (NASDAQ:AGYS) Increases By 27.1%

Agilysys, Inc. (NASDAQ:AGYS) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 407,300 shares, a growth of 27.1% from the May 31st total of 320,500 shares. Based on an average daily trading volume, of 213,700 shares, the days-to-cover ratio is presently 1.9 days.

Insider Buying and Selling at Agilysys

In related news, Director Mak Capital One Llc sold 45,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $98.48, for a total value of $4,431,600.00. Following the sale, the director now owns 1,253,407 shares of the company’s stock, valued at approximately $123,435,521.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Ramesh Srinivasan sold 50,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $93.24, for a total value of $4,662,000.00. Following the completion of the transaction, the chief executive officer now directly owns 838,367 shares of the company’s stock, valued at approximately $78,169,339.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mak Capital One Llc sold 45,000 shares of Agilysys stock in a transaction on Monday, June 24th. The shares were sold at an average price of $98.48, for a total value of $4,431,600.00. Following the sale, the director now directly owns 1,253,407 shares in the company, valued at approximately $123,435,521.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,392 shares of company stock worth $67,319,669. 23.60% of the stock is owned by insiders.

Institutional Trading of Agilysys

Hedge funds have recently bought and sold shares of the company. Castleark Management LLC raised its holdings in shares of Agilysys by 197.6% during the first quarter. Castleark Management LLC now owns 49,944 shares of the software maker’s stock valued at $4,208,000 after acquiring an additional 33,161 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Agilysys in the first quarter worth $3,532,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Agilysys by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock valued at $33,970,000 after buying an additional 20,703 shares in the last quarter. Brown Capital Management LLC purchased a new position in shares of Agilysys during the first quarter valued at $6,054,000. Finally, Lazard Asset Management LLC raised its position in Agilysys by 6.2% during the first quarter. Lazard Asset Management LLC now owns 3,490 shares of the software maker’s stock valued at $294,000 after buying an additional 204 shares during the period. 88.00% of the stock is owned by hedge funds and other institutional investors.

Agilysys Price Performance

NASDAQ AGYS opened at $103.43 on Tuesday. The company has a market capitalization of $2.84 billion, a P/E ratio of 32.73 and a beta of 0.82. Agilysys has a 12 month low of $63.78 and a 12 month high of $105.00. The company’s 50 day simple moving average is $92.64 and its 200 day simple moving average is $85.55.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, May 13th. The software maker reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The business had revenue of $62.22 million during the quarter, compared to analyst estimates of $61.95 million. Agilysys had a return on equity of 15.52% and a net margin of 36.30%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company posted $0.26 EPS. On average, analysts anticipate that Agilysys will post 0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. William Blair began coverage on shares of Agilysys in a research note on Monday, June 24th. They set an “outperform” rating on the stock. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Needham & Company LLC raised their price objective on shares of Agilysys from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer increased their price target on Agilysys from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.33.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.