Bank of New York Mellon Corp Sells 6,540 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Bank of New York Mellon Corp lowered its stake in Agilysys, Inc. (NASDAQ:AGYS) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 145,802 shares of the software maker’s stock after selling 6,540 shares during the quarter. Bank of New York Mellon Corp owned 0.52% of Agilysys worth $19,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in Agilysys by 117.4% in the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock worth $37,000 after purchasing an additional 182 shares during the period. Harbor Investment Advisory LLC grew its stake in Agilysys by 109.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock worth $49,000 after purchasing an additional 193 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Agilysys in the fourth quarter worth $61,000. US Bancorp DE grew its stake in Agilysys by 11.2% in the third quarter. US Bancorp DE now owns 1,216 shares of the software maker’s stock worth $133,000 after purchasing an additional 122 shares during the period. Finally, KBC Group NV grew its stake in Agilysys by 71.3% in the fourth quarter. KBC Group NV now owns 1,127 shares of the software maker’s stock worth $148,000 after purchasing an additional 469 shares during the period. Institutional investors own 88.00% of the company’s stock.

Agilysys Stock Down 5.2 %

NASDAQ AGYS opened at $73.96 on Tuesday. The stock’s 50 day moving average is $99.33 and its 200 day moving average is $111.42. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15. Agilysys, Inc. has a 12 month low of $72.98 and a 12 month high of $142.64. The stock has a market cap of $2.07 billion, a PE ratio of 92.45 and a beta of 0.98.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The company had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $73.15 million. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. Research analysts predict that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AGYS has been the subject of several analyst reports. Northland Securities raised their price target on Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Craig Hallum reduced their price target on Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC reduced their price target on Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. UBS Group set a $100.00 price target on Agilysys in a report on Wednesday, March 5th. Finally, Oppenheimer reduced their price target on Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Agilysys currently has an average rating of “Moderate Buy” and an average target price of $127.50.

Insider Buying and Selling at Agilysys

In related news, Director John Mutch sold 2,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $77.87, for a total transaction of $155,740.00. Following the completion of the sale, the director now directly owns 32,654 shares in the company, valued at $2,542,766.98. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $130.34, for a total value of $977,550.00. Following the sale, the director now owns 315,576 shares of the company’s stock, valued at $41,132,175.84. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,500 shares of company stock valued at $8,651,740 in the last quarter. 19.30% of the stock is owned by insiders.

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.