JPMorgan Chase & Co. Sells 66,978 Shares of Agilysys, Inc. $AGYS

JPMorgan Chase & Co. trimmed its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 19.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,462 shares of the software maker’s stock after selling 66,978 shares during the period. JPMorgan Chase & Co.’s holdings in Agilysys were worth $29,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AGYS. PNC Financial Services Group Inc. grew its position in Agilysys by 6.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,456 shares of the software maker’s stock worth $153,000 after buying an additional 88 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Agilysys by 5.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,853 shares of the software maker’s stock worth $195,000 after acquiring an additional 90 shares during the period. Advisors Asset Management Inc. raised its holdings in Agilysys by 14.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 785 shares of the software maker’s stock valued at $90,000 after acquiring an additional 97 shares in the last quarter. Arizona State Retirement System raised its holdings in Agilysys by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 7,834 shares of the software maker’s stock valued at $825,000 after acquiring an additional 98 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Agilysys by 38.0% during the 3rd quarter. GAMMA Investing LLC now owns 421 shares of the software maker’s stock valued at $44,000 after acquiring an additional 116 shares during the period. 88.00% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Melvin L. Keating purchased 300 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was bought at an average cost of $83.62 per share, for a total transaction of $25,086.00. Following the completion of the acquisition, the director owned 35,007 shares of the company’s stock, valued at approximately $2,927,285.34. This represents a 0.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 1,000 shares of company stock worth $77,669 in the last three months. 8.60% of the stock is currently owned by corporate insiders.

Agilysys Trading Up 1.8%

AGYS opened at $70.81 on Monday. The company has a market cap of $1.99 billion, a P/E ratio of 66.18 and a beta of 0.36. The company’s 50 day moving average is $85.68 and its 200-day moving average is $106.27. Agilysys, Inc. has a 1-year low of $63.71 and a 1-year high of $145.25.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The company had revenue of $80.39 million for the quarter, compared to analyst estimates of $79.07 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. Agilysys’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities analysts forecast that Agilysys, Inc. will post 0.8 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on AGYS shares. Needham & Company LLC reduced their target price on Agilysys from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. BTIG Research started coverage on shares of Agilysys in a research report on Tuesday, December 16th. They set a “neutral” rating for the company. UBS Group reiterated a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a report on Wednesday, January 21st. Finally, Oppenheimer boosted their target price on shares of Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Agilysys has an average rating of “Moderate Buy” and an average price target of $141.40.

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.