Summit Creek Advisors LLC Cuts Stock Position in Agilysys, Inc. $AGYS

Summit Creek Advisors LLC lessened its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,094 shares of the software maker’s stock after selling 6,500 shares during the period. Summit Creek Advisors LLC owned approximately 0.29% of Agilysys worth $8,535,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AGYS. William Blair Investment Management LLC purchased a new stake in shares of Agilysys in the second quarter worth $58,993,000. Goldman Sachs Group Inc. raised its position in shares of Agilysys by 125.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock worth $24,080,000 after purchasing an additional 184,402 shares during the last quarter. American Century Companies Inc. boosted its stake in Agilysys by 38.7% in the 2nd quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock worth $71,955,000 after purchasing an additional 175,137 shares in the last quarter. Invesco Ltd. grew its position in Agilysys by 28.1% during the 2nd quarter. Invesco Ltd. now owns 545,386 shares of the software maker’s stock valued at $62,523,000 after purchasing an additional 119,736 shares during the last quarter. Finally, Next Century Growth Investors LLC purchased a new stake in Agilysys during the 2nd quarter valued at about $12,362,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Stock Down 2.5%

AGYS opened at $117.37 on Monday. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 136.48 and a beta of 0.43. The firm has a 50 day moving average price of $123.04 and a 200-day moving average price of $115.66. Agilysys, Inc. has a twelve month low of $63.71 and a twelve month high of $145.25.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Wednesday, June 5th. The software maker reported $0.21 EPS for the quarter. The business had revenue of $36.34 million during the quarter. Agilysys had a net margin of 8.12% and a return on equity of 11.22%. As a group, analysts expect that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on AGYS. BTIG Research began coverage on shares of Agilysys in a report on Tuesday, December 16th. They issued a “neutral” rating for the company. Oppenheimer raised their price target on shares of Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Agilysys in a report on Monday, December 15th. UBS Group reaffirmed a “buy” rating on shares of Agilysys in a research report on Monday, December 15th. Finally, Zacks Research downgraded Agilysys from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.17.

Insider Buying and Selling

In related news, SVP Kyle C. Badger sold 502 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $124.64, for a total transaction of $62,569.28. Following the completion of the sale, the senior vice president owned 114,911 shares in the company, valued at approximately $14,322,507.04. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris J. Robertson sold 500 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $131.34, for a total value of $65,670.00. Following the completion of the transaction, the insider directly owned 687 shares in the company, valued at approximately $90,230.58. This represents a 42.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,576 shares of company stock valued at $1,882,370 over the last ninety days. 8.60% of the stock is owned by insiders.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.