Agilysys, Inc. (NASDAQ:AGYS) Short Interest Down 24.8% in March

Agilysys, Inc. (NASDAQ:AGYS) was the target of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 1,215,049 shares, a decrease of 24.8% from the February 26th total of 1,614,937 shares. Based on an average daily volume of 331,642 shares, the short-interest ratio is currently 3.7 days. Currently, 4.7% of the company’s shares are short sold.

Insider Buying and Selling at Agilysys

In other Agilysys news, Director Melvin L. Keating purchased 300 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was acquired at an average cost of $83.62 per share, for a total transaction of $25,086.00. Following the acquisition, the director owned 35,007 shares in the company, valued at $2,927,285.34. This trade represents a 0.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders acquired 1,000 shares of company stock worth $77,669. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its position in Agilysys by 419.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock valued at $25,000 after buying an additional 172 shares during the period. Global Retirement Partners LLC increased its position in shares of Agilysys by 118.5% during the third quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock worth $27,000 after acquiring an additional 141 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Agilysys in the fourth quarter valued at $34,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Agilysys in the second quarter valued at $30,000. Finally, Farther Finance Advisors LLC boosted its holdings in Agilysys by 215.5% in the third quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock valued at $39,000 after purchasing an additional 250 shares during the period. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGYS has been the topic of a number of recent analyst reports. Needham & Company LLC decreased their target price on shares of Agilysys from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Oppenheimer lifted their price target on shares of Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Wall Street Zen downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. BTIG Research initiated coverage on shares of Agilysys in a report on Tuesday, December 16th. They issued a “neutral” rating on the stock. Finally, UBS Group reaffirmed a “buy” rating on shares of Agilysys in a research report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.40.

Agilysys Price Performance

Shares of Agilysys stock opened at $70.37 on Monday. The business has a 50-day moving average of $81.40 and a 200 day moving average of $104.93. Agilysys has a 12 month low of $63.71 and a 12 month high of $145.25. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 65.77 and a beta of 0.36.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The business had revenue of $80.39 million for the quarter, compared to analysts’ expectations of $79.07 million. Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. Equities research analysts anticipate that Agilysys will post 0.8 earnings per share for the current year.

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.