Granahan Investment Management LLC Acquires 69,972 Shares of Agilysys, Inc. $AGYS

Granahan Investment Management LLC raised its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 288.5% in the third quarter, Holdings Channel.com reports. The fund owned 94,224 shares of the software maker’s stock after acquiring an additional 69,972 shares during the quarter. Granahan Investment Management LLC’s holdings in Agilysys were worth $9,917,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC raised its holdings in shares of Agilysys by 118.5% during the 3rd quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock valued at $27,000 after purchasing an additional 141 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Agilysys in the 2nd quarter valued at $30,000. 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 worth $39,000 after purchasing an additional 250 shares in the last quarter. GAMMA Investing LLC increased its position in Agilysys by 38.0% during the third quarter. GAMMA Investing LLC now owns 421 shares of the software maker’s stock worth $44,000 after buying an additional 116 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Agilysys by 194.3% during the third quarter. Bessemer Group Inc. now owns 412 shares of the software maker’s stock worth $44,000 after buying an additional 272 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Insider Buying and Selling at Agilysys

In other Agilysys news, Director Melvin L. Keating bought 300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was purchased at an average price of $83.62 per share, for a total transaction of $25,086.00. Following the purchase, the director directly owned 35,007 shares in the company, valued at $2,927,285.34. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AGYS has been the topic of several recent research reports. Wall Street Zen lowered Agilysys from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Oppenheimer increased their price objective on Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Needham & Company LLC reduced their target price on Agilysys from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, BTIG Research started coverage on Agilysys in a research report on Tuesday, December 16th. They set a “neutral” rating for the company. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Agilysys currently has an average rating of “Moderate Buy” and an average target price of $141.40.

Agilysys Price Performance

Shares of AGYS opened at $68.49 on Monday. The company has a market capitalization of $1.93 billion, a PE ratio of 64.01 and a beta of 0.36. Agilysys, Inc. has a one year low of $63.71 and a one year high of $145.25. The company’s fifty day moving average price is $90.61 and its 200 day moving average price is $107.66.

Agilysys (NASDAQ:AGYS) last released 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 firm had revenue of $80.39 million for the quarter, compared to the consensus estimate of $79.07 million. Agilysys had a net margin of 9.79% and a return on equity of 10.71%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. Analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Agilysys 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.