Wellington Management Group LLP Reduces Holdings in Agilysys, Inc. $AGYS

Wellington Management Group LLP decreased its position in shares of Agilysys, Inc. (NASDAQ:AGYS) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 608,050 shares of the software maker’s stock after selling 113,702 shares during the quarter. Wellington Management Group LLP owned approximately 2.16% of Agilysys worth $63,541,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Agilysys during the second quarter valued at about $431,704,000. Vanguard Group Inc. increased its stake in shares of Agilysys by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock worth $286,160,000 after purchasing an additional 32,052 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Agilysys by 5.3% in the second quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock valued at $115,204,000 after purchasing an additional 50,536 shares during the period. State Street Corp raised its position in shares of Agilysys by 0.5% in the fourth quarter. State Street Corp now owns 1,003,062 shares of the software maker’s stock valued at $119,204,000 after purchasing an additional 4,516 shares during the period. Finally, Capital Research Global Investors purchased a new stake in shares of Agilysys during the 4th quarter valued at approximately $104,878,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on AGYS shares. UBS Group set a $110.00 price objective on shares of Agilysys in a report on Wednesday, June 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Needham & Company LLC raised their price target on Agilysys from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Zacks Research cut Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.60.

Agilysys Price Performance

Shares of NASDAQ:AGYS opened at $113.51 on Thursday. The company’s fifty day moving average price is $109.02 and its 200-day moving average price is $87.18. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 75.17 and a beta of 0.38. Agilysys, Inc. has a one year low of $61.50 and a one year high of $145.25.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The company had revenue of $87.68 million during the quarter, compared to the consensus estimate of $85.97 million. During the same period in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts expect that Agilysys, Inc. will post 1.73 EPS for the current year.

Insider Transactions at Agilysys

In other news, SVP Kyle C. Badger sold 8,400 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $114.06, for a total value of $958,104.00. Following the completion of the transaction, the senior vice president directly owned 75,037 shares in the company, valued at approximately $8,558,720.22. This represents a 10.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William David Wood III sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $114.72, for a total value of $688,320.00. Following the completion of the transaction, the chief financial officer owned 35,052 shares of the company’s stock, valued at $4,021,165.44. The trade was a 14.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 212,812 shares of company stock worth $23,046,675. 8.70% of the stock is currently owned by company insiders.

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.