Lord Abbett & CO. LLC Has $115.38 Million Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Lord Abbett & CO. LLC grew its stake in Agilysys, Inc. (NASDAQ:AGYS) by 47.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,058,858 shares of the software maker’s stock after purchasing an additional 340,424 shares during the period. Lord Abbett & CO. LLC owned about 3.79% of Agilysys worth $115,383,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AGYS. US Bancorp DE raised its stake in shares of Agilysys by 11.2% in the 3rd quarter. US Bancorp DE now owns 1,216 shares of the software maker’s stock valued at $133,000 after buying an additional 122 shares in the last quarter. GAMMA Investing LLC lifted its stake in Agilysys by 66.7% during the third quarter. GAMMA Investing LLC now owns 415 shares of the software maker’s stock worth $45,000 after purchasing an additional 166 shares during the period. RiverPark Advisors LLC boosted its holdings in Agilysys by 9.6% during the second quarter. RiverPark Advisors LLC now owns 1,936 shares of the software maker’s stock valued at $202,000 after purchasing an additional 170 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Agilysys by 117.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after purchasing an additional 182 shares during the period. Finally, CWM LLC raised its holdings in shares of Agilysys by 390.2% in the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after buying an additional 199 shares in the last quarter. Institutional investors own 88.00% of the company’s stock.

Agilysys Stock Down 2.3 %

Shares of NASDAQ AGYS opened at $132.93 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 37.87 and a beta of 0.93. Agilysys, Inc. has a 12-month low of $73.52 and a 12-month high of $139.99. The firm’s 50-day simple moving average is $120.43 and its 200 day simple moving average is $109.72.

Agilysys (NASDAQ:AGYS) last released 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 business had revenue of $68.30 million for the quarter, compared to analysts’ expectations of $67.54 million. During the same period in the prior year, the firm earned $0.25 earnings per share. Agilysys’s revenue was up 16.6% compared to the same quarter last year. On average, research analysts expect that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AGYS shares. Oppenheimer boosted their price target on Agilysys from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. StockNews.com downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. BTIG Research lifted their price target on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Northland Securities restated an “outperform” rating and issued a $145.00 price target (up from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. Finally, Needham & Company LLC raised their price objective on shares of Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.80.

Insider Activity

In other news, insider Chris J. Robertson sold 264 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $26,627.04. Following the transaction, the insider now directly owns 22,624 shares in the company, valued at $2,281,856.64. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William David Wood III sold 1,870 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $134.01, for a total value of $250,598.70. Following the completion of the sale, the chief financial officer now owns 47,609 shares of the company’s stock, valued at $6,380,082.09. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,122 shares of company stock valued at $1,231,391. Company insiders own 19.30% 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.