Principal Financial Group Inc. Purchases 2,949 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Principal Financial Group Inc. raised its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,901 shares of the software maker’s stock after acquiring an additional 2,949 shares during the quarter. Principal Financial Group Inc. owned approximately 0.41% of Agilysys worth $12,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. increased its position in Agilysys by 59.1% in the third quarter. Eagle Asset Management Inc. now owns 142,738 shares of the software maker’s stock worth $16,959,000 after buying an additional 53,026 shares in the last quarter. State Street Corp increased its holdings in Agilysys by 5.0% in the 3rd quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after acquiring an additional 43,760 shares in the last quarter. Geode Capital Management LLC raised its stake in Agilysys by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock worth $57,614,000 after acquiring an additional 30,655 shares during the period. Natixis Advisors LLC bought a new position in shares of Agilysys in the second quarter worth approximately $1,111,000. Finally, Seven Eight Capital LP purchased a new stake in shares of Agilysys in the second quarter worth $580,000. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Stock Down 1.8 %

Shares of AGYS opened at $135.58 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 38.63 and a beta of 0.93. Agilysys, Inc. has a 1 year low of $73.52 and a 1 year high of $142.64. The business’s 50 day simple moving average is $125.16 and its 200-day simple moving average is $113.01.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.54 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Agilysys’s revenue was up 16.6% on a year-over-year basis. As a group, equities analysts expect that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Chris J. Robertson sold 264 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $26,627.04. Following the completion of the sale, the insider now owns 22,624 shares in the company, valued at approximately $2,281,856.64. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Melvin L. Keating sold 3,280 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $122.84, for a total transaction of $402,915.20. Following the transaction, the director now owns 34,407 shares in the company, valued at $4,226,555.88. The trade was a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,122 shares of company stock valued at $1,231,391 in the last ninety days. Insiders own 19.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AGYS has been the topic of a number of analyst reports. StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Oppenheimer boosted their price objective on Agilysys from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. BTIG Research increased their target price on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC upped their price target on Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $145.00 price objective (up from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.80.

About Agilysys

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.