Short Interest in Agilysys, Inc. (NASDAQ:AGYS) Decreases By 11.4%

Agilysys, Inc. (NASDAQ:AGYS) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 510,100 shares, a drop of 11.4% from the August 15th total of 575,700 shares. Based on an average daily volume of 221,000 shares, the short-interest ratio is presently 2.3 days.

Agilysys Price Performance

NASDAQ:AGYS opened at $102.92 on Tuesday. Agilysys has a 12 month low of $63.78 and a 12 month high of $114.70. The business’s 50-day moving average is $107.53 and its two-hundred day moving average is $95.04. The firm has a market capitalization of $2.87 billion, a PE ratio of 32.57 and a beta of 0.83.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. William Blair assumed coverage on shares of Agilysys in a research note on Monday, June 24th. They set an “outperform” rating on the stock. Northland Securities lifted their target price on Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Monday. Needham & Company LLC reissued a “buy” rating and set a $125.00 price target on shares of Agilysys in a research report on Monday. StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Finally, Craig Hallum boosted their target price on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Agilysys currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Insiders Place Their Bets

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 778,367 shares of the company’s stock, valued at $85,441,345.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Agilysys news, insider Chris J. Robertson sold 4,000 shares of Agilysys stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total value of $435,320.00. Following the completion of the sale, the insider now owns 22,888 shares in the company, valued at approximately $2,490,901.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. The disclosure for this sale can be found here. Insiders have sold 141,578 shares of company stock valued at $14,107,417 in the last ninety days. Insiders own 23.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after buying an additional 154 shares during the period. CWM LLC increased its holdings in Agilysys by 390.2% during the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after purchasing an additional 199 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Agilysys during the second quarter worth approximately $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Agilysys in the first quarter worth $35,000. Finally, RiverPark Advisors LLC increased its position in shares of Agilysys by 361.1% in the 1st quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock worth $149,000 after purchasing an additional 1,383 shares during the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

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.