Agilysys, Inc. (NASDAQ:AGYS) Short Interest Update

Agilysys, Inc. (NASDAQ:AGYS) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,120,000 shares, an increase of 23.3% from the November 30th total of 908,700 shares. Based on an average daily volume of 213,700 shares, the short-interest ratio is presently 5.2 days.

Insiders Place Their Bets

In related news, CFO William David Wood III sold 588 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $100.86, for a total transaction of $59,305.68. Following the completion of the sale, the chief financial officer now directly owns 49,479 shares in the company, valued at $4,990,451.94. This represents a 1.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris J. Robertson sold 264 shares of Agilysys 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 transaction, the insider now owns 22,624 shares in the company, valued at approximately $2,281,856.64. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,122 shares of company stock worth $1,231,391 in the last quarter. Corporate insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Several institutional investors have recently made changes to their positions in AGYS. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Agilysys by 159.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,399 shares of the software maker’s stock valued at $1,083,000 after acquiring an additional 6,387 shares during the period. Cutter & CO Brokerage Inc. acquired a new position in Agilysys during the 2nd quarter valued at about $208,000. Natixis Advisors LLC bought a new stake in Agilysys during the 2nd quarter worth approximately $1,111,000. Rhumbline Advisers raised its stake in shares of Agilysys by 4.8% in the second quarter. Rhumbline Advisers now owns 50,703 shares of the software maker’s stock worth $5,280,000 after purchasing an additional 2,341 shares during the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of Agilysys in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Stock Performance

Shares of Agilysys stock opened at $133.44 on Tuesday. The company has a market cap of $3.73 billion, a P/E ratio of 38.02 and a beta of 0.93. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $125.48 and a two-hundred day moving average price of $113.46. Agilysys has a 1-year low of $73.52 and a 1-year high of $142.64.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northland Securities reaffirmed an “outperform” rating and issued a $145.00 target price (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. Oppenheimer lifted their price target on Agilysys from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Needham & Company LLC raised their price objective on shares of Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.