Argent Trust Co Makes New Investment in Agilysys, Inc. (NASDAQ:AGYS)

Argent Trust Co bought a new position in Agilysys, Inc. (NASDAQ:AGYS) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,127 shares of the software maker’s stock, valued at approximately $222,000.

Several other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Agilysys by 19.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 93,024 shares of the software maker’s stock valued at $9,688,000 after purchasing an additional 15,164 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Agilysys during the second quarter valued at approximately $758,000. William Blair Investment Management LLC bought a new position in Agilysys in the second quarter worth approximately $21,039,000. American Century Companies Inc. lifted its holdings in Agilysys by 1,861.4% during the second quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock worth $23,026,000 after buying an additional 209,836 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new stake in Agilysys during the 2nd quarter valued at $2,004,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Craig Hallum boosted their price target on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. BTIG Research increased their price target on shares of Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, July 19th. StockNews.com upgraded shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Tuesday. Northland Securities raised their target price on shares of Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, William Blair began coverage on Agilysys in a research report on Monday, June 24th. They set an “outperform” rating on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $124.00.

Insider Transactions at Agilysys

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the transaction, the chief executive officer now owns 778,367 shares in the company, valued at approximately $85,441,345.59. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Chris J. Robertson sold 4,000 shares of the business’s 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 transaction, the insider now owns 22,888 shares of the company’s stock, valued at approximately $2,490,901.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. 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 currently owned by insiders.

Agilysys Trading Up 0.2 %

NASDAQ:AGYS opened at $104.79 on Friday. Agilysys, Inc. has a twelve month low of $63.78 and a twelve month high of $114.70. The company has a market cap of $2.88 billion, a PE ratio of 33.16 and a beta of 0.83. The company’s 50 day moving average is $107.44 and its two-hundred day moving average is $95.52.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, analysts expect that Agilysys, Inc. will post 0.62 EPS for the current fiscal year.

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.