Formula Growth Ltd. Takes $2.30 Million Position in Agilysys, Inc. $AGYS

Formula Growth Ltd. bought a new stake in shares of Agilysys, Inc. (NASDAQ:AGYS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,000 shares of the software maker’s stock, valued at approximately $2,299,000. Formula Growth Ltd. owned approximately 0.08% of Agilysys as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC raised its holdings in Agilysys by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 5,023 shares of the software maker’s stock valued at $597,000 after acquiring an additional 153 shares during the period. 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 acquiring an additional 159 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Agilysys by 3.1% in the first quarter. Glenmede Trust Co. NA now owns 5,518 shares of the software maker’s stock worth $393,000 after acquiring an additional 165 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Agilysys by 4.5% in the fourth quarter. NewEdge Advisors LLC now owns 3,947 shares of the software maker’s stock worth $469,000 after acquiring an additional 170 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Agilysys by 419.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock worth $25,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 88.00% of the company’s stock.

Insider Transactions at Agilysys

In related news, CEO Ramesh Srinivasan sold 25,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $108.15, for a total value of $2,703,750.00. Following the sale, the chief executive officer owned 610,044 shares in the company, valued at approximately $65,976,258.60. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kyle C. Badger sold 8,400 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $114.06, for a total transaction of $958,104.00. Following the completion of the sale, the senior vice president owned 75,037 shares in the company, valued at $8,558,720.22. This represents a 10.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 211,810 shares of company stock valued at $22,931,805 in the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AGYS shares. Oppenheimer reissued an “outperform” rating and set a $118.00 target price on shares of Agilysys in a research note on Tuesday, July 28th. Piper Sandler upped their price target on Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. UBS Group set a $110.00 price objective on shares of Agilysys in a report on Wednesday, June 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Finally, Needham & Company LLC boosted their target price on shares of Agilysys from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.60.

Agilysys Trading Up 5.1%

Shares of AGYS stock opened at $120.50 on Friday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 79.80 and a beta of 0.37. Agilysys, Inc. has a 12-month low of $61.50 and a 12-month high of $145.25. The stock’s 50-day moving average price is $106.82 and its 200-day moving average price is $86.33.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The company had revenue of $87.68 million during the quarter, compared to analyst estimates of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share. As a group, research analysts predict that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.

Agilysys 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.