Agilysys, Inc. (NASDAQ:AGYS) Short Interest Down 24.8% in March

Agilysys, Inc. (NASDAQ:AGYS) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 1,215,049 shares, a decline of 24.8% from the February 26th total of 1,614,937 shares. Approximately 4.7% of the company’s stock are sold short. Based on an average daily volume of 331,642 shares, the days-to-cover ratio is currently 3.7 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BTIG Research started coverage on shares of Agilysys in a research note on Tuesday, December 16th. They set a “neutral” rating for the company. Needham & Company LLC lowered their target price on Agilysys from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. UBS Group reiterated a “buy” rating on shares of Agilysys in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded Agilysys from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Agilysys presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.40.

Insider Buying and Selling

In other Agilysys news, Director Melvin L. Keating bought 300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was acquired at an average price of $83.62 per share, with a total value of $25,086.00. Following the completion of the transaction, the director owned 35,007 shares in the company, valued at approximately $2,927,285.34. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 1,000 shares of company stock worth $77,669 in the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in shares of Agilysys by 30.1% in the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after buying an additional 159 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Agilysys by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock worth $972,000 after acquiring an additional 569 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Agilysys by 125.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock valued at $24,080,000 after acquiring an additional 184,402 shares during the period. Jane Street Group LLC raised its stake in Agilysys by 1,025.2% in the 1st quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock valued at $2,738,000 after acquiring an additional 34,395 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Agilysys during the 2nd quarter valued at $231,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Price Performance

Shares of AGYS stock opened at $70.37 on Friday. The company has a fifty day moving average price of $81.40 and a two-hundred day moving average price of $104.95. Agilysys has a one year low of $63.71 and a one year high of $145.25. The stock has a market cap of $1.98 billion, a P/E ratio of 65.77 and a beta of 0.36.

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

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.