Riverchase Wealth Management LLC Makes New Investment in Agilysys, Inc. (NASDAQ:AGYS)

Riverchase Wealth Management LLC bought a new position in Agilysys, Inc. (NASDAQ:AGYS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,810 shares of the software maker’s stock, valued at approximately $370,000.

Several other institutional investors have also modified their holdings of AGYS. Vanguard Group Inc. boosted its holdings in Agilysys by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 2,209,274 shares of the software maker’s stock valued at $290,983,000 after purchasing an additional 58,926 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Agilysys by 47.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock valued at $115,383,000 after acquiring an additional 340,424 shares during the last quarter. State Street Corp lifted its holdings in Agilysys by 5.0% in the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock valued at $100,124,000 after acquiring an additional 43,760 shares during the last quarter. Geode Capital Management LLC grew its position in Agilysys by 6.2% in the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock worth $57,614,000 after acquiring an additional 30,655 shares during the period. Finally, FMR LLC increased its stake in Agilysys by 1,197.1% during the third quarter. FMR LLC now owns 505,690 shares of the software maker’s stock worth $55,105,000 after acquiring an additional 466,704 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Insider Activity

In other Agilysys news, Director John Mutch sold 750 shares of Agilysys stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $75.33, for a total transaction of $56,497.50. Following the transaction, the director now owns 31,904 shares of the company’s stock, valued at $2,403,328.32. The trade was a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $130.34, for a total value of $977,550.00. Following the completion of the sale, the director now directly owns 315,576 shares of the company’s stock, valued at $41,132,175.84. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,250 shares of company stock worth $8,708,238. Corporate insiders own 19.30% of the company’s stock.

Agilysys Price Performance

AGYS stock opened at $75.62 on Friday. Agilysys, Inc. has a 1 year low of $71.37 and a 1 year high of $142.64. The firm has a market capitalization of $2.11 billion, a P/E ratio of 94.53 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. The business’s 50-day moving average is $84.75 and its two-hundred day moving average is $108.30.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $69.60 million for the quarter, compared to analyst estimates of $73.15 million. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. Analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AGYS has been the subject of a number of research analyst reports. Craig Hallum lowered their price target on Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC dropped their price target on shares of Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. UBS Group set a $100.00 price objective on shares of Agilysys in a report on Wednesday, March 5th. Oppenheimer dropped their target price on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Finally, Northland Securities upped their price target on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Agilysys has a consensus rating of “Moderate Buy” and a consensus target price of $127.50.

Agilysys Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.