Agilysys (NASDAQ:AGYS) CEO Ramesh Srinivasan Sells 66,205 Shares of Stock

Agilysys, Inc. (NASDAQ:AGYS) CEO Ramesh Srinivasan sold 66,205 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $109.63, for a total transaction of $7,258,054.15. Following the sale, the chief executive officer owned 741,249 shares of the company’s stock, valued at $81,263,127.87. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ramesh Srinivasan also recently made the following trade(s):

• On Friday, August 7th, Ramesh Srinivasan sold 25,000 shares of Agilysys stock. The shares were sold at an average price of $108.15, for a total transaction of $2,703,750.00.
• On Thursday, August 6th, Ramesh Srinivasan sold 106,205 shares of Agilysys stock. The shares were sold at an average price of $106.62, for a total transaction of $11,323,577.10.

Agilysys Price Performance

AGYS stock traded up $1.00 during trading on Friday, reaching $108.58. The company had a trading volume of 218,936 shares, compared to its average volume of 352,480. Agilysys, Inc. has a 52 week low of $61.50 and a 52 week high of $145.25. The business has a 50 day moving average of $99.82 and a 200 day moving average of $84.56. The company has a market cap of $3.06 billion, a P/E ratio of 71.91 and a beta of 0.37.

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

Institutional Trading of Agilysys

A number of hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in Agilysys by 419.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock valued at $25,000 after acquiring an additional 172 shares during the period. Optiver Holding B.V. grew its stake in shares of Agilysys by 700.0% during the 1st quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock valued at $32,000 after purchasing an additional 399 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Agilysys during the 4th quarter valued at about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Agilysys during the 3rd quarter valued at about $43,000. Finally, Versant Capital Management Inc increased its position in shares of Agilysys by 123.9% during the 2nd quarter. Versant Capital Management Inc now owns 421 shares of the software maker’s stock valued at $44,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Analyst Ratings Changes

AGYS has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a report on Tuesday, July 28th. Weiss Ratings raised shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Oppenheimer restated an “outperform” rating and issued a $118.00 price objective on shares of Agilysys in a report on Tuesday, July 28th. UBS Group set a $110.00 target price on Agilysys in a research note on Wednesday, June 3rd. Finally, Needham & Company LLC boosted their price target on Agilysys from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Agilysys presently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

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.