Envestnet Asset Management Inc. Sells 9,425 Shares of Agilysys, Inc. $AGYS

Envestnet Asset Management Inc. lowered its stake in Agilysys, Inc. (NASDAQ:AGYS) by 6.7% during the second quarter, Holdings Channel.com reports. The fund owned 131,221 shares of the software maker’s stock after selling 9,425 shares during the period. Envestnet Asset Management Inc.’s holdings in Agilysys were worth $15,043,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Agilysys by 43.2% in the second quarter. GAMMA Investing LLC now owns 305 shares of the software maker’s stock valued at $35,000 after purchasing an additional 92 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after buying an additional 159 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Agilysys by 2,026.0% in the first quarter. AlphaQuest LLC now owns 1,063 shares of the software maker’s stock valued at $77,000 after buying an additional 1,013 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Agilysys by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,405 shares of the software maker’s stock worth $102,000 after buying an additional 141 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Agilysys by 58.8% during the first quarter. HighTower Advisors LLC now owns 3,048 shares of the software maker’s stock worth $221,000 after buying an additional 1,129 shares during the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Agilysys news, insider Chris J. Robertson sold 400 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $124.64, for a total value of $49,856.00. Following the transaction, the insider directly owned 16,187 shares of the company’s stock, valued at $2,017,547.68. This represents a 2.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO William David Wood III sold 584 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $125.20, for a total transaction of $73,116.80. Following the transaction, the chief financial officer directly owned 41,052 shares in the company, valued at approximately $5,139,710.40. This represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,580 shares of company stock worth $1,130,887 over the last three months. 8.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AGYS has been the subject of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating on shares of Agilysys in a research note on Tuesday, October 28th. UBS Group set a $155.00 target price on shares of Agilysys in a research note on Tuesday, October 28th. Needham & Company LLC lifted their price target on Agilysys from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded Agilysys from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Zacks Research raised Agilysys from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $138.67.

Agilysys Stock Performance

Shares of AGYS opened at $126.19 on Friday. The firm has a market cap of $3.54 billion, a P/E ratio of 146.73 and a beta of 0.66. Agilysys, Inc. has a 52 week low of $63.71 and a 52 week high of $145.25. The firm’s 50-day simple moving average is $111.76 and its 200 day simple moving average is $106.43.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Wednesday, June 5th. The software maker reported $0.21 earnings per share (EPS) for the quarter. Agilysys had a return on equity of 11.22% and a net margin of 8.12%.The company had revenue of $36.34 million during the quarter. As a group, equities analysts forecast that Agilysys, Inc. will post 0.8 earnings per share for the current year.

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.