Agilysys, Inc. $AGYS Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 5.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,329 shares of the software maker’s stock after selling 7,658 shares during the quarter. Granite Investment Partners LLC owned approximately 0.48% of Agilysys worth $9,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in Agilysys by 419.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock worth $25,000 after buying an additional 172 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Agilysys during the 4th quarter worth about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in Agilysys during the third quarter worth approximately $43,000. Advisors Asset Management Inc. lifted its stake in Agilysys by 30.1% during the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock worth $50,000 after purchasing an additional 159 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Agilysys by 31.1% in the fourth quarter. GAMMA Investing LLC now owns 552 shares of the software maker’s stock valued at $66,000 after purchasing an additional 131 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on AGYS shares. Weiss Ratings upgraded shares of Agilysys from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Piper Sandler initiated coverage on shares of Agilysys in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $110.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Agilysys in a research report on Tuesday, May 19th. UBS Group set a $110.00 price target on shares of Agilysys in a research note on Wednesday, June 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.00.

Agilysys Trading Down 5.8%

Shares of AGYS opened at $106.29 on Thursday. The firm has a market cap of $2.99 billion, a PE ratio of 78.15 and a beta of 0.37. The company’s 50 day simple moving average is $85.70 and its 200-day simple moving average is $86.34. Agilysys, Inc. has a 12-month low of $61.50 and a 12-month high of $145.25.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, May 18th. The software maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $82.95 million for the quarter, compared to analysts’ expectations of $81.56 million. Agilysys had a net margin of 12.15% and a return on equity of 11.07%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS. As a group, equities research analysts forecast that Agilysys, Inc. will post 1.77 EPS for the current fiscal year.

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.