Wellington Management Group LLP Decreases Position in Agilysys, Inc. $AGYS

Wellington Management Group LLP cut its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 15.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 608,050 shares of the software maker’s stock after selling 113,702 shares during the period. Wellington Management Group LLP’s holdings in Agilysys were worth $63,541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its holdings in shares of Agilysys by 419.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock worth $25,000 after buying an additional 172 shares during the period. Optiver Holding B.V. lifted its stake in shares of Agilysys by 700.0% in the 1st quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock valued at $32,000 after acquiring an additional 399 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Agilysys during the 4th quarter valued at about $34,000. Measured Wealth Private Client Group LLC bought a new position in Agilysys during the 3rd quarter worth approximately $43,000. Finally, Versant Capital Management Inc grew its position in Agilysys by 123.9% during the 2nd quarter. Versant Capital Management Inc now owns 421 shares of the software maker’s stock worth $44,000 after acquiring an additional 233 shares during the last quarter. 88.00% of the stock is owned by institutional investors.

Agilysys Stock Up 0.9%

Shares of NASDAQ AGYS opened at $113.51 on Thursday. The firm has a market cap of $3.20 billion, a P/E ratio of 75.17 and a beta of 0.38. Agilysys, Inc. has a twelve month low of $61.50 and a twelve month high of $145.25. The company has a 50 day moving average of $109.02 and a 200 day moving average of $87.18.

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

Insiders Place Their Bets

In other news, CFO William David Wood III sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $114.72, for a total transaction of $688,320.00. Following the sale, the chief financial officer owned 35,052 shares of the company’s stock, valued at $4,021,165.44. This trade represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joe Ahmed Youssef Abdelrahman sold 1,002 shares of Agilysys stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $114.64, for a total transaction of $114,869.28. Following the completion of the sale, the insider owned 19,045 shares of the company’s stock, valued at $2,183,318.80. This represents a 5.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 212,812 shares of company stock valued at $23,046,675 over the last quarter. Corporate insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AGYS. Weiss Ratings upgraded Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Piper Sandler raised their target price on shares of Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Needham & Company LLC upped their price target on shares of Agilysys from $130.00 to $135.00 and gave the company a “buy” rating in a report on Monday, August 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a report on Tuesday, July 28th. Finally, UBS Group set a $110.00 price target on Agilysys in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $124.60.

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.