Lord Abbett & CO. LLC Sells 1,115,166 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Lord Abbett & CO. LLC cut its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS) by 95.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,519 shares of the software maker’s stock after selling 1,115,166 shares during the period. Lord Abbett & CO. LLC’s holdings in Agilysys were worth $3,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGYS. Wells Fargo & Company MN lifted its holdings in Agilysys by 23.2% during the fourth quarter. Wells Fargo & Company MN now owns 47,976 shares of the software maker’s stock worth $6,319,000 after acquiring an additional 9,031 shares in the last quarter. Bank of Montreal Can lifted its holdings in Agilysys by 14.9% during the fourth quarter. Bank of Montreal Can now owns 3,309 shares of the software maker’s stock worth $436,000 after acquiring an additional 430 shares in the last quarter. Raymond James Financial Inc. bought a new position in Agilysys during the fourth quarter worth about $19,637,000. Barclays PLC lifted its holdings in Agilysys by 52.5% during the fourth quarter. Barclays PLC now owns 77,136 shares of the software maker’s stock worth $10,160,000 after acquiring an additional 26,564 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in Agilysys by 17.5% during the fourth quarter. Jump Financial LLC now owns 11,404 shares of the software maker’s stock worth $1,502,000 after acquiring an additional 1,699 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AGYS shares. Needham & Company LLC reiterated a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Agilysys in a report on Tuesday, May 20th. Cantor Fitzgerald began coverage on Agilysys in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $125.00 price target on the stock. Northland Securities set a $152.00 price target on Agilysys in a report on Tuesday, May 20th. Finally, Oppenheimer boosted their price target on Agilysys from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.86.

Agilysys Trading Down 0.3%

NASDAQ:AGYS opened at $105.83 on Friday. Agilysys, Inc. has a twelve month low of $63.71 and a twelve month high of $142.64. The company has a market cap of $2.97 billion, a P/E ratio of 211.66 and a beta of 0.71. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $113.17 and a two-hundred day moving average price of $92.59.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, July 21st. The software maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Agilysys had a return on equity of 11.13% and a net margin of 4.85%. The company had revenue of $76.68 million for the quarter, compared to the consensus estimate of $74.42 million. During the same quarter in the previous year, the company posted $0.30 EPS. The business’s revenue was up 20.7% on a year-over-year basis. As a group, analysts expect that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Chris J. Robertson sold 258 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total transaction of $29,254.62. Following the sale, the insider owned 21,137 shares in the company, valued at approximately $2,396,724.43. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Mutch sold 500 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $110.83, for a total value of $55,415.00. Following the sale, the director owned 31,404 shares in the company, valued at $3,480,505.32. The trade was a 1.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,405 shares of company stock worth $158,033. Insiders own 8.60% of the company’s stock.

Agilysys 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.