Agilysys, Inc. (NASDAQ:AGYS) Sees Large Decline in Short Interest

Agilysys, Inc. (NASDAQ:AGYS) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 484,500 shares, a decline of 5.0% from the August 31st total of 510,100 shares. Based on an average daily volume of 223,000 shares, the days-to-cover ratio is presently 2.2 days.

Agilysys Trading Down 1.7 %

NASDAQ AGYS opened at $107.97 on Monday. Agilysys has a 1-year low of $63.78 and a 1-year high of $114.70. The company has a 50 day moving average of $107.42 and a 200-day moving average of $96.76. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 34.17 and a beta of 0.83.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Craig Hallum boosted their price target on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com raised Agilysys from a “hold” rating to a “buy” rating in a report on Friday. BTIG Research raised their price objective on Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Oppenheimer upped their target price on Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, William Blair began coverage on Agilysys in a research note on Monday, June 24th. They issued an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Agilysys currently has an average rating of “Buy” and a consensus price target of $124.00.

Insiders Place Their Bets

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the completion of the transaction, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Agilysys news, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total value of $435,320.00. Following the completion of the transaction, the insider now owns 22,888 shares in the company, valued at approximately $2,490,901.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of the transaction, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at $85,441,345.59. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $3,734,810 in the last three months. 23.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGYS. Vanguard Group Inc. raised its stake in shares of Agilysys by 12.3% in the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after acquiring an additional 217,008 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Agilysys by 13.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after buying an additional 87,549 shares in the last quarter. Geneva Capital Management LLC boosted its position in Agilysys by 10.6% in the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock valued at $57,805,000 after buying an additional 65,672 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Agilysys by 91.6% in the 1st quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock valued at $2,797,000 after buying an additional 15,870 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Agilysys during the second quarter worth $1,847,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Company 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.