Seven Eight Capital LP Invests $580,000 in Agilysys, Inc. (NASDAQ:AGYS)

Seven Eight Capital LP bought a new stake in Agilysys, Inc. (NASDAQ:AGYS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,566 shares of the software maker’s stock, valued at approximately $580,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AGYS. Vanguard Group Inc. lifted its position 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 valued at $166,530,000 after buying an additional 217,008 shares during the last quarter. Wasatch Advisors LP raised its stake in Agilysys by 439.5% in the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock valued at $84,903,000 after acquiring an additional 820,840 shares during the period. 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 valued at $60,920,000 after purchasing an additional 87,549 shares during the last quarter. Geneva Capital Management LLC boosted its position in Agilysys by 10.6% during the first quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock worth $57,805,000 after purchasing an additional 65,672 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Agilysys by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock valued at $33,970,000 after purchasing an additional 20,703 shares during the last quarter. Institutional investors own 88.00% of the company’s stock.

Analysts Set New Price Targets

AGYS has been the subject of several research analyst reports. BTIG Research lifted their target price on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price on shares of Agilysys in a research note on Monday, September 16th. Craig Hallum boosted their price target on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. William Blair initiated coverage on Agilysys in a research report on Monday, June 24th. They set an “outperform” rating on the stock. Finally, StockNews.com raised shares of Agilysys from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $124.00.

Agilysys Stock Up 0.2 %

Shares of AGYS stock opened at $104.79 on Friday. The business has a fifty day simple moving average of $107.44 and a 200 day simple moving average of $95.66. The company has a market cap of $2.88 billion, a P/E ratio of 33.16 and a beta of 0.83. Agilysys, Inc. has a twelve month low of $63.78 and a twelve month high of $114.70.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The business had revenue of $63.50 million during the quarter, compared to the consensus estimate of $64.52 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Agilysys, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Agilysys

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’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 value of $1,097,700.00. Following the completion of 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 document filed with the SEC, which can be accessed through this link. In related news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kyle C. Badger sold 249 shares of Agilysys stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $102.03, for a total value of $25,405.47. Following the transaction, the senior vice president now directly owns 115,834 shares in the company, valued at $11,818,543.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,543 shares of company stock worth $8,221,812. Insiders own 23.60% of the company’s stock.

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.