Agilysys, Inc. (NASDAQ:AGYS) Sees Large Growth in Short Interest

Agilysys, Inc. (NASDAQ:AGYS) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,120,000 shares, an increase of 23.3% from the November 30th total of 908,700 shares. Based on an average daily volume of 213,700 shares, the days-to-cover ratio is presently 5.2 days.

Insiders Place Their Bets

In other news, insider Chris J. Robertson sold 264 shares of the 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 sale, the insider now directly owns 22,624 shares of the company’s stock, valued at approximately $2,281,856.64. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kyle C. Badger sold 471 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $47,505.06. Following the transaction, the senior vice president now owns 115,117 shares of the company’s stock, valued at $11,610,700.62. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,122 shares of company stock worth $1,231,391. 19.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AGYS. Larson Financial Group LLC purchased a new stake in shares of Agilysys in the 2nd quarter worth $32,000. Advisors Asset Management Inc. grew its holdings in Agilysys by 117.4% during the third 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. GAMMA Investing LLC increased its position in Agilysys by 66.7% in the third quarter. GAMMA Investing LLC now owns 415 shares of the software maker’s stock worth $45,000 after buying an additional 166 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Agilysys in the third quarter worth about $46,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Agilysys by 76.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock valued at $52,000 after buying an additional 205 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors.

Agilysys Stock Performance

Shares of AGYS traded down $2.51 during trading hours on Friday, hitting $135.58. The stock had a trading volume of 93,866 shares, compared to its average volume of 216,531. The firm has a market capitalization of $3.79 billion, a PE ratio of 38.63 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. Agilysys has a 12 month low of $73.52 and a 12 month high of $142.64. The stock has a fifty day moving average price of $125.16 and a 200 day moving average price of $113.01.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The business had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. During the same period in the previous year, the company posted $0.25 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts anticipate that Agilysys will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

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

About Agilysys

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.