Agilysys, Inc. (NASDAQ:AGYS) Short Interest Up 5.4% in December

Agilysys, Inc. (NASDAQ:AGYS) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,180,000 shares, an increase of 5.4% from the December 15th total of 1,120,000 shares. Based on an average daily volume of 213,800 shares, the days-to-cover ratio is presently 5.5 days.

Insider Activity

In related news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of Agilysys stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $130.55, for a total transaction of $979,125.00. Following the sale, the director now directly owns 330,576 shares in the company, valued at $43,156,696.80. The trade was a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Melvin L. Keating sold 3,280 shares of Agilysys stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $122.84, for a total transaction of $402,915.20. Following the transaction, the director now directly owns 34,407 shares of the company’s stock, valued at approximately $4,226,555.88. This trade represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,122 shares of company stock valued at $7,099,841. 19.30% of the stock is currently owned by company insiders.

Institutional Trading of Agilysys

Institutional investors have recently made changes to their positions in the business. Eagle Asset Management Inc. increased its holdings in Agilysys by 59.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 142,738 shares of the software maker’s stock valued at $16,959,000 after acquiring an additional 53,026 shares during the last quarter. State Street Corp increased its holdings in shares of Agilysys by 5.0% in the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after purchasing an additional 43,760 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Agilysys by 6.2% in the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock worth $57,614,000 after purchasing an additional 30,655 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Agilysys in the second quarter worth about $580,000. Finally, CWM LLC boosted its stake in Agilysys by 169.2% during the third quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $73,000 after buying an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Stock Down 8.4 %

AGYS stock opened at $121.81 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19. Agilysys has a twelve month low of $74.03 and a twelve month high of $142.64. The stock has a market cap of $3.40 billion, a P/E ratio of 34.70 and a beta of 0.94. The business’s 50-day moving average price is $131.80 and its 200-day moving average price is $116.74.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AGYS. StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Northland Securities lifted their price objective on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Needham & Company LLC upped their price objective on Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Oppenheimer raised their target price on Agilysys from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, BTIG Research upped their price target on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $146.00.

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.