Lord Abbett & CO. LLC Grows Position in Agilysys, Inc. (NASDAQ:AGYS)

Lord Abbett & CO. LLC boosted its position in Agilysys, Inc. (NASDAQ:AGYS) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 722,995 shares of the software maker’s stock after purchasing an additional 87,549 shares during the period. Lord Abbett & CO. LLC owned about 2.64% of Agilysys worth $60,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AGYS. RiverPark Advisors LLC raised its stake in Agilysys by 53.2% during the 4th quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $32,000 after purchasing an additional 133 shares during the period. YHB Investment Advisors Inc. bought a new stake in Agilysys during the 1st quarter valued at approximately $35,000. Pacer Advisors Inc. raised its stake in Agilysys by 247.6% during the 4th quarter. Pacer Advisors Inc. now owns 511 shares of the software maker’s stock valued at $43,000 after purchasing an additional 364 shares during the period. ProShare Advisors LLC raised its stake in Agilysys by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 4,077 shares of the software maker’s stock valued at $344,000 after purchasing an additional 309 shares during the period. Finally, Fifth Third Bancorp raised its stake in Agilysys by 7,184.4% during the 1st quarter. Fifth Third Bancorp now owns 4,662 shares of the software maker’s stock valued at $393,000 after purchasing an additional 4,598 shares during the period. 88.00% of the stock is owned by hedge funds and other institutional investors.

Agilysys Stock Performance

AGYS stock traded down $2.02 during trading on Friday, reaching $107.91. The company had a trading volume of 312,803 shares, compared to its average volume of 217,922. Agilysys, Inc. has a twelve month low of $63.78 and a twelve month high of $110.98. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 33.74 and a beta of 0.82. The firm has a 50-day simple moving average of $98.76 and a 200-day simple moving average of $87.37.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Monday, May 13th. The software maker reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. Agilysys had a net margin of 36.30% and a return on equity of 15.52%. The firm had revenue of $62.22 million during the quarter, compared to analyst estimates of $61.95 million. During the same period in the previous year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts expect that Agilysys, Inc. will post 0.69 earnings per share for the current year.

Insider Activity

In other Agilysys news, SVP Kyle C. Badger sold 8,948 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $99.15, for a total value of $887,194.20. Following the transaction, the senior vice president now owns 166,943 shares of the company’s stock, valued at $16,552,398.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kyle C. Badger sold 8,948 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $99.15, for a total transaction of $887,194.20. Following the sale, the senior vice president now directly owns 166,943 shares in the company, valued at $16,552,398.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kyle C. Badger sold 249 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $102.03, for a total transaction of $25,405.47. Following the sale, the senior vice president now owns 115,834 shares in the company, valued at $11,818,543.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 700,935 shares of company stock valued at $67,375,071. 23.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AGYS. Oppenheimer lifted their target price on Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday. Needham & Company LLC lifted their target price on Agilysys from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. BTIG Research lifted their target price on Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a research note on Friday. William Blair started coverage on Agilysys in a research note on Monday, June 24th. They set an “outperform” rating on the stock. Finally, StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Agilysys currently has a consensus rating of “Moderate Buy” and an average price target of $112.00.

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.