Agilysys, Inc. (NASDAQ:AGYS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,991 shares of the software maker’s stock after selling 935 shares during the period. Corebridge Financial Inc.’s holdings in Agilysys were worth $1,579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its holdings in Agilysys by 109.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock valued at $49,000 after acquiring an additional 193 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Agilysys by 381.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock worth $57,000 after purchasing an additional 336 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Agilysys in the 4th quarter valued at about $61,000. Assetmark Inc. bought a new position in shares of Agilysys during the fourth quarter worth about $115,000. Finally, KBC Group NV grew its stake in Agilysys by 71.3% in the fourth quarter. KBC Group NV now owns 1,127 shares of the software maker’s stock worth $148,000 after purchasing an additional 469 shares in the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 750 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $75.33, for a total value of $56,497.50. Following the completion of the sale, the director now directly owns 31,904 shares in the company, valued at $2,403,328.32. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of Agilysys stock in a transaction on Monday, January 6th. The shares were sold at an average price of $130.34, for a total value of $977,550.00. Following the transaction, the director now owns 315,576 shares in the company, valued at approximately $41,132,175.84. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,750 shares of company stock worth $7,729,113. 19.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Oppenheimer reduced their target price on Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Needham & Company LLC decreased their price objective on shares of Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Northland Securities increased their target price on shares of Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Craig Hallum decreased their price target on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, UBS Group set a $100.00 price objective on shares of Agilysys in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.50.

Agilysys Trading Up 3.3 %

Shares of NASDAQ:AGYS opened at $74.64 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $81.20 and its 200 day moving average price is $107.56. The company has a market cap of $2.09 billion, a PE ratio of 93.30 and a beta of 0.98. Agilysys, Inc. has a fifty-two week low of $70.40 and a fifty-two week high of $142.64.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The company had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $73.15 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Agilysys Company Profile

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.