Assenagon Asset Management S.A. reduced its stake in Agilysys, Inc. (NASDAQ:AGYS) by 37.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,160 shares of the software maker’s stock after selling 39,881 shares during the period. Assenagon Asset Management S.A.’s holdings in Agilysys were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings in shares of Agilysys by 161.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,636 shares of the software maker’s stock worth $400,000 after acquiring an additional 9,647 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Agilysys in the 2nd quarter worth approximately $4,296,000. Marshall Wace LLP boosted its holdings in shares of Agilysys by 90.4% in the 2nd quarter. Marshall Wace LLP now owns 21,840 shares of the software maker’s stock worth $469,000 after acquiring an additional 10,367 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Agilysys by 301.5% in the 2nd quarter. Morgan Stanley now owns 90,175 shares of the software maker’s stock worth $1,936,000 after acquiring an additional 67,717 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Agilysys in the 2nd quarter worth approximately $1,448,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Ramesh Srinivasan acquired 11,000 shares of Agilysys stock in a transaction on Wednesday, July 31st. The shares were purchased at an average price of $24.59 per share, with a total value of $270,490.00. Following the acquisition, the chief executive officer now owns 155,348 shares in the company, valued at $3,820,007.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jebaseelan Kingsley acquired 2,000 shares of Agilysys stock in a transaction on Monday, September 9th. The shares were purchased at an average cost of $25.59 per share, for a total transaction of $51,180.00. Following the acquisition, the vice president now owns 11,630 shares in the company, valued at approximately $297,611.70. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 23,000 shares of company stock worth $572,970. Company insiders own 16.00% of the company’s stock.
Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. Agilysys had a negative return on equity of 12.64% and a negative net margin of 8.95%. The firm had revenue of $38.39 million for the quarter, compared to the consensus estimate of $37.92 million.
Several research analysts have recently commented on AGYS shares. Maxim Group set a $28.00 target price on Agilysys and gave the stock a “buy” rating in a report on Friday, July 26th. Northland Securities reissued a “buy” rating and issued a $32.00 target price on shares of Agilysys in a report on Thursday. National Securities started coverage on Agilysys in a report on Wednesday. They issued a “buy” rating on the stock. ValuEngine downgraded Agilysys from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded Agilysys from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $30.33.
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. The company offers point-of-sale, property management, reservation and table management, inventory and procurement, workforce management, analytics, document management, and mobile and wireless solutions to streamline operations, and enhance efficiency and guest experience.
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