Agilysys, Inc. (NASDAQ:AGYS) Shares Sold by Synovus Financial Corp

Synovus Financial Corp trimmed its stake in Agilysys, Inc. (NASDAQ:AGYS) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,766 shares of the software maker’s stock after selling 2,007 shares during the quarter. Synovus Financial Corp’s holdings in Agilysys were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AGYS. Harbor Investment Advisory LLC increased its position in Agilysys by 109.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock worth $49,000 after purchasing an additional 193 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Agilysys by 381.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock valued at $57,000 after buying an additional 336 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Agilysys in the fourth quarter valued at approximately $61,000. Assetmark Inc. purchased a new position in shares of Agilysys during the fourth quarter valued at approximately $115,000. Finally, Huntington National Bank boosted its position in Agilysys by 319.1% during the fourth quarter. Huntington National Bank now owns 922 shares of the software maker’s stock worth $121,000 after acquiring an additional 702 shares during the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Agilysys

In other news, Director John Mutch sold 2,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $77.87, for a total value of $155,740.00. Following the completion of the sale, the director now owns 32,654 shares in the company, valued at approximately $2,542,766.98. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $128.17, for a total value of $961,275.00. Following the transaction, the director now directly owns 255,576 shares in the company, valued at $32,757,175.92. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,250 shares of company stock worth $2,839,788. Corporate insiders own 19.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AGYS has been the topic of a number of recent analyst reports. Needham & Company LLC reduced their price target on Agilysys from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Northland Securities increased their target price on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. 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. UBS Group set a $100.00 price objective on shares of Agilysys in a report on Wednesday, March 5th. Finally, Oppenheimer decreased their target price on shares of Agilysys from $135.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Agilysys has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Agilysys Stock Performance

NASDAQ AGYS opened at $68.45 on Wednesday. The business’s 50-day simple moving average is $76.61 and its 200-day simple moving average is $104.76. The firm has a market capitalization of $1.91 billion, a P/E ratio of 85.56 and a beta of 0.64. Agilysys, Inc. has a 1-year low of $63.71 and a 1-year high of $142.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09.

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

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.