Formula Growth Ltd. Purchases New Position in Agilysys, Inc. $AGYS

Formula Growth Ltd. purchased a new position in Agilysys, Inc. (NASDAQ:AGYS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,000 shares of the software maker’s stock, valued at approximately $2,299,000.

Several other large investors also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its position in Agilysys by 30.1% during the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after purchasing an additional 159 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Agilysys by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock worth $972,000 after purchasing an additional 569 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Agilysys by 125.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock valued at $24,080,000 after purchasing an additional 184,402 shares during the last quarter. Jane Street Group LLC increased its position in shares of Agilysys by 1,025.2% during the 1st quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock valued at $2,738,000 after purchasing an additional 34,395 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Agilysys during the 2nd quarter valued at $231,000. 88.00% of the stock is owned by institutional investors.

Agilysys Stock Performance

Shares of AGYS stock opened at $120.50 on Friday. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $145.25. The firm has a market capitalization of $3.40 billion, a P/E ratio of 79.80 and a beta of 0.37. The stock has a 50 day moving average price of $106.82 and a 200 day moving average price of $86.33.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The company had revenue of $87.68 million during the quarter, compared to analysts’ expectations of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.Agilysys’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, sell-side analysts forecast that Agilysys, Inc. will post 1.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AGYS. UBS Group set a $110.00 price target on Agilysys in a research report on Wednesday, June 3rd. Needham & Company LLC increased their target price on shares of Agilysys from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Piper Sandler raised their target price on shares of Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Oppenheimer reaffirmed an “outperform” rating and set a $118.00 price target on shares of Agilysys in a research note on Tuesday, July 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a report on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Agilysys currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.60.

Insider Transactions at Agilysys

In other news, SVP Kyle C. Badger sold 8,400 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total transaction of $958,104.00. Following the completion of the sale, the senior vice president directly owned 75,037 shares of the company’s stock, valued at approximately $8,558,720.22. The trade was a 10.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ramesh Srinivasan sold 25,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $108.15, for a total transaction of $2,703,750.00. Following the completion of the transaction, the chief executive officer owned 610,044 shares in the company, valued at approximately $65,976,258.60. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 211,810 shares of company stock worth $22,931,805. 8.70% of the stock is currently owned by insiders.

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.