Lazard Asset Management LLC Cuts Stake in Agilysys, Inc. $AGYS

Lazard Asset Management LLC decreased its position in Agilysys, Inc. (NASDAQ:AGYS) by 31.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,833 shares of the software maker’s stock after selling 8,251 shares during the period. Lazard Asset Management LLC owned about 0.06% of Agilysys worth $1,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after purchasing an additional 159 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Agilysys by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock worth $972,000 after buying an additional 569 shares in the last quarter. Goldman Sachs Group Inc. raised 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 worth $24,080,000 after buying an additional 184,402 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Agilysys by 1,025.2% in the 1st quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock valued at $2,738,000 after buying an additional 34,395 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in shares of Agilysys in the 2nd quarter valued at approximately $231,000. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGYS has been the topic of a number of recent analyst reports. Weiss Ratings raised Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Piper Sandler raised their target price on Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. UBS Group set a $110.00 price target on shares of Agilysys in a research note on Wednesday, June 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a report on Tuesday, July 28th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $118.00 price objective on shares of Agilysys in a research note on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Agilysys Trading Up 1.4%

Shares of NASDAQ AGYS opened at $111.27 on Wednesday. The company’s 50-day moving average price is $98.69 and its 200 day moving average price is $84.63. Agilysys, Inc. has a 52 week low of $61.50 and a 52 week high of $145.25. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 73.69 and a beta of 0.37.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. The company had revenue of $87.68 million for the quarter, compared to the consensus estimate of $85.97 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, research analysts expect that Agilysys, Inc. will post 1.73 earnings per share for the current year.

Agilysys 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.