Granite Investment Partners LLC Sells 28,861 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Granite Investment Partners LLC trimmed its position in Agilysys, Inc. (NASDAQ:AGYS) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 303,601 shares of the software maker’s stock after selling 28,861 shares during the quarter. Agilysys makes up 1.3% of Granite Investment Partners LLC’s holdings, making the stock its 13th largest position. Granite Investment Partners LLC owned about 1.09% of Agilysys worth $31,617,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AGYS. Wasatch Advisors LP raised its holdings in shares of Agilysys by 439.5% in the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock valued at $84,903,000 after purchasing an additional 820,840 shares during the period. Vanguard Group Inc. raised its holdings in shares of Agilysys by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares during the period. American Century Companies Inc. grew its stake in Agilysys by 1,861.4% in the 2nd quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock valued at $23,026,000 after buying an additional 209,836 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Agilysys in the 2nd quarter valued at about $21,039,000. Finally, Conestoga Capital Advisors LLC acquired a new position in Agilysys in the 2nd quarter valued at about $16,546,000. 88.00% of the stock is owned by institutional investors.

Agilysys Stock Performance

AGYS stock opened at $104.61 on Friday. The company has a fifty day moving average price of $107.49 and a 200-day moving average price of $95.33. The company has a market capitalization of $2.92 billion, a P/E ratio of 33.10 and a beta of 0.83. Agilysys, Inc. has a 52-week low of $63.78 and a 52-week high of $114.70.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The firm had revenue of $63.50 million during the quarter, compared to the consensus estimate of $64.52 million. During the same quarter last year, the firm earned $0.18 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, sell-side analysts forecast that Agilysys, Inc. will post 0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Northland Securities upped their price target on shares of Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday. Oppenheimer increased their target price on shares of Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Agilysys in a research report on Monday. StockNews.com upgraded shares of Agilysys from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, BTIG Research upped their price target on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $124.00.

Insider Transactions at Agilysys

In other news, Director Mak Capital One Llc sold 45,000 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $98.48, for a total transaction of $4,431,600.00. Following the completion of the sale, the director now directly owns 1,253,407 shares in the company, valued at $123,435,521.36. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Kyle C. Badger sold 249 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $102.03, for a total transaction of $25,405.47. Following the completion of the sale, the senior vice president now directly owns 115,834 shares in the company, valued at $11,818,543.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mak Capital One Llc sold 45,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $98.48, for a total transaction of $4,431,600.00. Following the sale, the director now owns 1,253,407 shares of the company’s stock, valued at $123,435,521.36. The disclosure for this sale can be found here. Insiders sold a total of 80,543 shares of company stock worth $8,221,812 over the last three months. 23.60% of the stock is owned by company insiders.

Agilysys Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.