Agilysys, Inc. $AGYS Shares Purchased by Jennison Associates LLC

Jennison Associates LLC grew its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 64.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,580 shares of the software maker’s stock after acquiring an additional 143,789 shares during the quarter. Jennison Associates LLC owned about 1.30% of Agilysys worth $26,007,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Capital Research Global Investors purchased a new stake in Agilysys in the fourth quarter valued at approximately $104,878,000. Wellington Management Group LLP raised its stake in Agilysys by 75.9% during the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock worth $72,675,000 after purchasing an additional 297,846 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Agilysys by 33.0% in the 1st quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker’s stock valued at $67,848,000 after purchasing an additional 236,373 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Agilysys by 125.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock valued at $24,080,000 after buying an additional 184,402 shares during the period. Finally, Langdon Equity Partners acquired a new stake in shares of Agilysys during the 4th quarter worth $12,448,000. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AGYS. Weiss Ratings upgraded Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. UBS Group set a $110.00 price target on Agilysys in a research note on Wednesday, June 3rd. Oppenheimer raised their price objective on Agilysys from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Agilysys in a research report on Tuesday, May 19th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.00.

Agilysys Price Performance

Shares of NASDAQ AGYS opened at $106.28 on Tuesday. Agilysys, Inc. has a 1-year low of $61.50 and a 1-year high of $145.25. The business has a 50-day moving average of $91.98 and a 200-day moving average of $85.58. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 78.15 and a beta of 0.37.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, May 18th. The software maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.51 by $0.12. The business had revenue of $82.95 million for the quarter, compared to the consensus estimate of $81.56 million. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Research analysts expect 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.