Agilysys, Inc. (NASDAQ:AGYS) Short Interest Down 6.4% in August

Agilysys, Inc. (NASDAQ:AGYS) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 255,900 shares, a decline of 6.4% from the August 15th total of 273,500 shares. Based on an average daily trading volume, of 149,100 shares, the days-to-cover ratio is presently 1.7 days.

Insider Transactions at Agilysys

In other news, Director John Mutch sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $70.91, for a total value of $70,910.00. Following the transaction, the director now owns 36,358 shares of the company’s stock, valued at $2,578,145.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Several hedge funds and other institutional investors have recently made changes to their positions in AGYS. Captrust Financial Advisors raised its stake in shares of Agilysys by 370.9% in the first quarter. Captrust Financial Advisors now owns 890 shares of the software maker’s stock valued at $35,000 after acquiring an additional 701 shares during the period. Tower Research Capital LLC TRC increased its stake in Agilysys by 751.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 443 shares of the software maker’s stock worth $37,000 after buying an additional 391 shares during the period. Arcadia Investment Management Corp MI increased its stake in Agilysys by 131.2% in the 1st quarter. Arcadia Investment Management Corp MI now owns 601 shares of the software maker’s stock worth $50,000 after buying an additional 341 shares during the period. Lazard Asset Management LLC purchased a new position in Agilysys in the 4th quarter worth about $80,000. Finally, PNC Financial Services Group Inc. increased its stake in Agilysys by 13.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,185 shares of the software maker’s stock worth $94,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Oppenheimer lowered their price objective on shares of Agilysys from $105.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, July 25th. Northland Securities lowered their price objective on shares of Agilysys from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, July 25th. Needham & Company LLC started coverage on shares of Agilysys in a research report on Monday, August 14th. They set a “buy” rating and a $92.00 price objective for the company. Finally, StockNews.com started coverage on shares of Agilysys in a research report on Thursday, August 17th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.40.

Agilysys Trading Down 1.2 %

Shares of AGYS opened at $67.94 on Tuesday. Agilysys has a twelve month low of $46.99 and a twelve month high of $88.16. The company has a market cap of $1.72 billion, a P/E ratio of 158.00 and a beta of 0.90. The company’s fifty day simple moving average is $70.11 and its 200-day simple moving average is $73.97.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, July 24th. The software maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. Agilysys had a net margin of 6.34% and a return on equity of 23.95%. The business had revenue of $56.10 million for the quarter, compared to the consensus estimate of $55.24 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Analysts predict that Agilysys will post 0.73 earnings per share for the current fiscal year.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.