Polar Asset Management Partners Inc. Sells 12,604 Shares of Agilysys, Inc. $AGYS

Polar Asset Management Partners Inc. lowered its position in Agilysys, Inc. (NASDAQ:AGYS) by 33.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 24,596 shares of the software maker’s stock after selling 12,604 shares during the period. Polar Asset Management Partners Inc.’s holdings in Agilysys were worth $2,589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in shares of Agilysys by 14.6% during the third quarter. Principal Financial Group Inc. now owns 461,482 shares of the software maker’s stock worth $48,571,000 after purchasing an additional 58,691 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Agilysys by 2.3% in the third quarter. Artisan Partners Limited Partnership now owns 644,199 shares of the software maker’s stock valued at $67,802,000 after purchasing an additional 14,308 shares during the period. American Century Companies Inc. grew its holdings in shares of Agilysys by 38.7% in the second quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock valued at $71,955,000 after purchasing an additional 175,137 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Agilysys by 8.0% in the second quarter. Geode Capital Management LLC now owns 607,664 shares of the software maker’s stock valued at $69,670,000 after acquiring an additional 45,037 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its position in shares of Agilysys by 13.1% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 205,857 shares of the software maker’s stock worth $21,666,000 after buying an additional 23,791 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AGYS shares. Oppenheimer increased their price objective 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. Zacks Research upgraded shares of Agilysys from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. BTIG Research assumed coverage on Agilysys in a report on Tuesday, December 16th. They issued a “neutral” rating on the stock. Wall Street Zen cut Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, UBS Group reaffirmed a “buy” rating on shares of Agilysys in a report on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $141.40.

Insider Activity

In other 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 cost of $83.62 per share, with a total value of $25,086.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders bought 1,000 shares of company stock valued at $77,669. 8.60% of the stock is owned by corporate insiders.

Agilysys Price Performance

Shares of NASDAQ:AGYS opened at $69.56 on Friday. Agilysys, Inc. has a 12 month low of $63.71 and a 12 month high of $145.25. The firm has a market capitalization of $1.96 billion, a P/E ratio of 65.01 and a beta of 0.36. The company’s fifty day moving average price is $86.62 and its 200 day moving average price is $106.55.

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

About Agilysys

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.