Agilysys, Inc. (NASDAQ:AGYS) Sees Large Drop in Short Interest

Agilysys, Inc. (NASDAQ:AGYS) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 510,100 shares, a decrease of 11.4% from the August 15th total of 575,700 shares. Based on an average trading volume of 221,000 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AGYS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Agilysys in a research note on Tuesday, July 23rd. William Blair began coverage on shares of Agilysys in a research report on Monday, June 24th. They set an “outperform” rating on the stock. BTIG Research boosted their price target on Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a report on Friday, July 19th. Oppenheimer raised their price objective on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.00.

Agilysys Stock Up 1.1 %

Shares of AGYS stock opened at $102.17 on Monday. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 32.33 and a beta of 0.83. Agilysys has a 52-week low of $63.78 and a 52-week high of $114.70. The company’s 50 day moving average is $107.58 and its 200 day moving average is $94.87.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $63.50 million for the quarter, compared to analysts’ expectations of $64.52 million. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. Analysts anticipate that Agilysys will post 0.62 EPS for the current fiscal year.

Insider Activity

In related news, Director Mak Capital One Llc sold 61,035 shares of Agilysys stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $96.43, for a total transaction of $5,885,605.05. Following the completion of the transaction, the director now directly owns 1,298,407 shares of the company’s stock, valued at approximately $125,205,387.01. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Agilysys news, SVP Kyle C. Badger sold 249 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $102.03, for a total value of $25,405.47. Following the transaction, the senior vice president now owns 115,834 shares of the company’s stock, valued at approximately $11,818,543.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mak Capital One Llc sold 61,035 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $96.43, for a total value of $5,885,605.05. Following the completion of the sale, the director now owns 1,298,407 shares in the company, valued at approximately $125,205,387.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,578 shares of company stock valued at $14,107,417. 23.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Agilysys

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Agilysys by 162.1% during the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after buying an additional 154 shares during the last quarter. CWM LLC lifted its position in Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after acquiring an additional 199 shares during the last quarter. Larson Financial Group LLC acquired a new stake in Agilysys in the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. purchased a new position in Agilysys in the first quarter worth $35,000. Finally, RiverPark Advisors LLC increased its position in shares of Agilysys by 361.1% during the first quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock worth $149,000 after purchasing an additional 1,383 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

About Agilysys

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.