Brown Capital Management LLC Sells 163,516 Shares of Agilysys, Inc. $AGYS

Brown Capital Management LLC trimmed its stake in Agilysys, Inc. (NASDAQ:AGYS) by 25.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 481,667 shares of the software maker’s stock after selling 163,516 shares during the quarter. Agilysys comprises about 2.1% of Brown Capital Management LLC’s holdings, making the stock its 22nd biggest position. Brown Capital Management LLC’s holdings in Agilysys were worth $50,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC grew its stake in shares of Agilysys by 118.5% in the 3rd quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock valued at $27,000 after buying an additional 141 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Agilysys during the second quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in shares of Agilysys by 43.2% during the second quarter. GAMMA Investing LLC now owns 305 shares of the software maker’s stock worth $35,000 after purchasing an additional 92 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Agilysys by 215.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock worth $39,000 after purchasing an additional 250 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Agilysys in the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of Agilysys from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 28th. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Agilysys in a report on Tuesday, January 27th. Oppenheimer lifted their price target on Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Wall Street Zen downgraded Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $140.00 target price on shares of Agilysys in a report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $145.40.

Agilysys Stock Performance

Shares of AGYS stock opened at $89.25 on Tuesday. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 83.41 and a beta of 0.41. Agilysys, Inc. has a 52-week low of $63.71 and a 52-week high of $145.25. The company has a 50-day simple moving average of $116.41 and a two-hundred day simple moving average of $114.44.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The business had revenue of $80.39 million during the quarter, compared to analysts’ expectations of $79.07 million. Agilysys had a return on equity of 10.71% and a net margin of 9.79%.Agilysys’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 EPS. On average, sell-side analysts forecast that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Agilysys news, insider Chris J. Robertson sold 500 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $131.34, for a total value of $65,670.00. Following the completion of the transaction, the insider owned 687 shares in the company, valued at $90,230.58. This represents a 42.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald A. Colvin sold 6,000 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $123.28, for a total transaction of $739,680.00. Following the completion of the transaction, the director directly owned 24,592 shares in the company, valued at $3,031,701.76. This trade represents a 19.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.60% of the stock is owned by corporate insiders.

Agilysys 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.