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

Agilysys, Inc. (NASDAQ:AGYS) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 273,400 shares, an increase of 5.8% from the October 15th total of 258,500 shares. Based on an average trading volume of 114,500 shares, the days-to-cover ratio is presently 2.4 days.

Agilysys Stock Performance

Shares of AGYS stock opened at $88.06 on Friday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 187.37 and a beta of 0.87. Agilysys has a one year low of $60.59 and a one year high of $91.61. The company’s 50-day moving average is $74.09 and its 200 day moving average is $72.14.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, October 23rd. The software maker reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Agilysys had a net margin of 6.46% and a return on equity of 23.72%. The firm had revenue of $58.62 million for the quarter, compared to analysts’ expectations of $56.80 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. As a group, research analysts predict that Agilysys will post 0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on AGYS. StockNews.com raised shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Tuesday, October 24th. Needham & Company LLC restated a “buy” rating and set a $92.00 price target on shares of Agilysys in a research report on Tuesday, October 24th. TheStreet upgraded Agilysys from a “c” rating to a “b-” rating in a report on Tuesday, October 24th. Oppenheimer lowered their price objective on Agilysys from $105.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, July 25th. Finally, Northland Securities reduced their target price on shares of Agilysys from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 25th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $88.40.

Insider Buying and Selling

In related news, Director Donald A. Colvin sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $90.72, for a total transaction of $453,600.00. Following the completion of the sale, the director now directly owns 29,624 shares in the company, valued at approximately $2,687,489.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Chris J. Robertson sold 15,526 shares of Agilysys stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $86.05, for a total value of $1,336,012.30. Following the sale, the insider now owns 25,673 shares in the company, valued at $2,209,161.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Donald A. Colvin sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $90.72, for a total transaction of $453,600.00. Following the transaction, the director now directly owns 29,624 shares in the company, valued at $2,687,489.28. The disclosure for this sale can be found here. Insiders have sold a total of 21,012 shares of company stock worth $1,831,544 in the last ninety days. 23.60% of the stock is owned by insiders.

Institutional Trading of Agilysys

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Agilysys by 1.6% during the first quarter. BlackRock Inc. now owns 3,157,975 shares of the software maker’s stock valued at $125,939,000 after buying an additional 50,734 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Agilysys by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,716,952 shares of the software maker’s stock valued at $95,034,000 after acquiring an additional 64,115 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Agilysys by 6.3% in the third quarter. Artisan Partners Limited Partnership now owns 1,213,452 shares of the software maker’s stock worth $80,282,000 after acquiring an additional 72,111 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Agilysys by 72.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 929,473 shares of the software maker’s stock valued at $73,559,000 after purchasing an additional 389,710 shares during the last quarter. Finally, Fred Alger Management LLC lifted its position in Agilysys by 62.5% during the first quarter. Fred Alger Management LLC now owns 916,502 shares of the software maker’s stock valued at $75,621,000 after purchasing an additional 352,559 shares during the period. Institutional investors own 97.65% of the company’s stock.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.