JPMorgan Chase & Co. Sells 66,978 Shares of Agilysys, Inc. $AGYS

JPMorgan Chase & Co. lessened its position in Agilysys, Inc. (NASDAQ:AGYS) by 19.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 283,462 shares of the software maker’s stock after selling 66,978 shares during the period. JPMorgan Chase & Co. owned 1.01% of Agilysys worth $29,834,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AGYS. Goldman Sachs Group Inc. boosted its holdings in shares of Agilysys by 125.0% during the first 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 period. American Century Companies Inc. lifted its holdings 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 buying an additional 175,137 shares during the period. Invesco Ltd. lifted its holdings in Agilysys by 28.1% in the 2nd quarter. Invesco Ltd. now owns 545,386 shares of the software maker’s stock worth $62,523,000 after buying an additional 119,736 shares during the period. Next Century Growth Investors LLC bought a new stake in shares of Agilysys in the 2nd quarter worth approximately $12,362,000. Finally, Segall Bryant & Hamill LLC increased its stake in shares of Agilysys by 53.2% during the second quarter. Segall Bryant & Hamill LLC now owns 272,466 shares of the software maker’s stock valued at $31,236,000 after buying an additional 94,640 shares during the period. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Stock Performance

Shares of AGYS opened at $72.17 on Friday. Agilysys, Inc. has a fifty-two week low of $63.71 and a fifty-two week high of $145.25. The firm’s 50-day simple moving average is $99.63 and its two-hundred day simple moving average is $109.96. The stock has a market cap of $2.03 billion, a PE ratio of 67.45 and a beta of 0.41.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Monday, January 26th. The software maker reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The company had revenue of $80.39 million during the quarter, compared to the consensus estimate of $79.07 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts predict that Agilysys, Inc. will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research upgraded shares of Agilysys from a “strong sell” rating to a “hold” rating in a research report on Thursday. UBS Group restated a “buy” rating on shares of Agilysys in a report on Monday, December 15th. Finally, Needham & Company LLC cut their price objective on Agilysys from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Agilysys presently has an average rating of “Moderate Buy” and an average price target of $141.40.

Insider Buying and Selling at Agilysys

In related news, Director Melvin L. Keating purchased 300 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was purchased at an average price of $83.62 per share, with a total value of $25,086.00. Following the transaction, the director directly owned 35,007 shares in the company, valued at $2,927,285.34. This trade represents a 0.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Agilysys Company Profile

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.