Oak Ridge Investments LLC Purchases Shares of 28,555 Agilysys, Inc. (NASDAQ:AGYS)

Oak Ridge Investments LLC acquired a new stake in Agilysys, Inc. (NASDAQ:AGYS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,555 shares of the software maker’s stock, valued at approximately $3,112,000. Oak Ridge Investments LLC owned 0.10% of Agilysys as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. US Bancorp DE raised its position in shares of Agilysys by 11.2% in the third quarter. US Bancorp DE now owns 1,216 shares of the software maker’s stock worth $133,000 after acquiring an additional 122 shares during the period. State of Alaska Department of Revenue increased its position in shares of Agilysys by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 12,718 shares of the software maker’s stock worth $1,385,000 after purchasing an additional 862 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Agilysys by 5.9% during the third quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the software maker’s stock worth $1,177,000 after buying an additional 600 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Agilysys by 19.9% in the third quarter. Assenagon Asset Management S.A. now owns 199,207 shares of the software maker’s stock worth $21,708,000 after buying an additional 33,066 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Agilysys in the 3rd quarter worth approximately $8,312,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Stock Performance

NASDAQ:AGYS opened at $100.04 on Friday. Agilysys, Inc. has a 12 month low of $73.52 and a 12 month high of $125.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 2.34. The firm has a market capitalization of $2.80 billion, a PE ratio of 28.50 and a beta of 0.83. The business’s fifty day moving average price is $108.66 and its 200 day moving average price is $101.67.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The company had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts anticipate that Agilysys, Inc. will post 0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AGYS. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price target on shares of Agilysys in a research report on Tuesday. Craig Hallum lifted their price objective on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. BTIG Research increased their target price on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer lifted their target price on Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Northland Securities reissued an “outperform” rating and set a $145.00 price target (up previously from $132.00) on shares of Agilysys in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.80.

Insider Activity

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the transaction, the chief executive officer now owns 738,367 shares in the company, valued at $75,335,585.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total transaction of $113,690.00. Following the transaction, the director now owns 36,326 shares of the company’s stock, valued at $4,129,902.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at approximately $75,335,585.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,000 shares of company stock valued at $3,734,810. Insiders own 19.30% of the company’s stock.

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.