Agilysys, Inc. (NASDAQ:AGYS) Short Interest Down 5.0% in September

Agilysys, Inc. (NASDAQ:AGYS) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 484,500 shares, a drop of 5.0% from the August 31st total of 510,100 shares. Based on an average trading volume of 223,000 shares, the days-to-cover ratio is presently 2.2 days.

Agilysys Trading Down 2.3 %

Shares of NASDAQ AGYS opened at $106.51 on Wednesday. The company has a 50 day simple moving average of $107.36 and a two-hundred day simple moving average of $97.15. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 33.71 and a beta of 0.83. Agilysys has a 12 month low of $63.78 and a 12 month high of $114.70.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $63.50 million during 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%. Agilysys’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. Analysts forecast that Agilysys will post 0.62 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on AGYS shares. William Blair began coverage on Agilysys in a research note on Monday, June 24th. They issued an “outperform” rating for the company. Northland Securities increased their price objective on shares of Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. StockNews.com raised shares of Agilysys from a “hold” rating to a “buy” rating in a research report on Friday, September 27th. Craig Hallum raised their price target on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, BTIG Research boosted their price objective on shares of Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a report on Friday, July 19th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Agilysys has a consensus rating of “Buy” and a consensus target price of $124.00.

Insider Activity

In related news, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total transaction of $435,320.00. Following the completion of the sale, the insider now directly owns 22,888 shares in the company, valued at approximately $2,490,901.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of the sale, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total value of $435,320.00. Following the transaction, the insider now directly owns 22,888 shares in the company, valued at $2,490,901.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,000 shares of company stock worth $3,734,810. 23.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Agilysys

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Agilysys by 162.1% during the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after buying an additional 154 shares in the last quarter. RiverPark Advisors LLC boosted its position in Agilysys by 9.6% during the second quarter. RiverPark Advisors LLC now owns 1,936 shares of the software maker’s stock worth $202,000 after acquiring an additional 170 shares during the last quarter. CWM LLC grew its stake in Agilysys by 390.2% during the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after acquiring an additional 199 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Agilysys by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the software maker’s stock valued at $1,062,000 after acquiring an additional 200 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Agilysys by 6.2% in the 1st quarter. Lazard Asset Management LLC now owns 3,490 shares of the software maker’s stock worth $294,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Company 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.