Agilysys (NASDAQ:AGYS) CEO Sells 25,000 Shares of Stock

Agilysys, Inc. (NASDAQ:AGYS) CEO Ramesh Srinivasan sold 25,000 shares of Agilysys stock in a transaction on Friday, August 7th. The shares were 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 directly owned 610,044 shares in the company, valued at $65,976,258.60. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction of $11,323,577.10.
• On Wednesday, August 5th, Ramesh Srinivasan sold 66,205 shares of Agilysys stock. The stock was sold at an average price of $109.63, for a total transaction of $7,258,054.15.

Agilysys Stock Performance

Agilysys stock traded up $1.00 during midday trading on Friday, hitting $108.58. 218,936 shares of the company’s stock were exchanged, compared to its average volume of 352,480. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 71.91 and a beta of 0.37. Agilysys, Inc. has a 12-month low of $61.50 and a 12-month high of $145.25. The firm’s 50 day simple moving average is $99.82 and its 200 day simple moving average is $84.56.

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

Hedge Funds Weigh In On Agilysys

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Agilysys in the second quarter valued at about $431,704,000. Deutsche Bank AG acquired a new position in Agilysys during the second quarter worth about $21,593,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Agilysys during the second quarter worth about $194,000. Persistent Asset Partners Ltd purchased a new position in Agilysys in the second quarter valued at about $107,000. Finally, Global Retirement Partners LLC purchased a new position in Agilysys in the second quarter valued at about $92,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Wall Street Analyst Weigh In

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

About Agilysys

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.