Agilysys (NASDAQ:AGYS) CEO Ramesh Srinivasan Sells 66,205 Shares

Agilysys, Inc. (NASDAQ:AGYS) CEO Ramesh Srinivasan sold 66,205 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $109.63, for a total value of $7,258,054.15. Following the completion of the transaction, the chief executive officer directly owned 741,249 shares in the company, valued at $81,263,127.87. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ramesh Srinivasan also recently made the following trade(s):

• On Friday, August 7th, Ramesh Srinivasan sold 25,000 shares of Agilysys stock. The stock was sold at an average price of $108.15, for a total value of $2,703,750.00.
• On Thursday, August 6th, Ramesh Srinivasan sold 106,205 shares of Agilysys stock. The stock was sold at an average price of $106.62, for a total value of $11,323,577.10.

Agilysys Stock Performance

NASDAQ:AGYS opened at $108.58 on Friday. Agilysys, Inc. has a 1 year low of $61.50 and a 1 year high of $145.25. The stock has a market cap of $3.06 billion, a P/E ratio of 71.91 and a beta of 0.37. The stock has a 50-day simple moving average of $100.26 and a 200-day simple moving average of $84.73.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.09. The business had revenue of $87.68 million for the quarter, compared to analyst estimates of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. On average, equities research analysts predict that Agilysys, Inc. will post 1.73 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on AGYS shares. UBS Group set a $110.00 price objective on shares of Agilysys in a report on Wednesday, June 3rd. Weiss Ratings upgraded shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Needham & Company LLC increased their target price on shares of Agilysys from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Oppenheimer reiterated an “outperform” rating and set a $118.00 price target on shares of Agilysys in a research note on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Institutional Investors Weigh In On Agilysys

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGYS. BlackRock Inc. acquired a new stake in shares of Agilysys in the second quarter valued at approximately $431,704,000. Vanguard Group Inc. raised its position in Agilysys by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock valued at $286,160,000 after purchasing an additional 32,052 shares during the last quarter. Wasatch Advisors LP boosted its stake in Agilysys by 5.3% during the 2nd quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock worth $115,204,000 after purchasing an additional 50,536 shares during the period. State Street Corp grew its position in Agilysys by 0.5% during the 4th quarter. State Street Corp now owns 1,003,062 shares of the software maker’s stock worth $119,204,000 after purchasing an additional 4,516 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in Agilysys during the 4th quarter worth $104,878,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.