Agilysys (NASDAQ:AGYS) CEO Ramesh Srinivasan Sells 106,205 Shares

Agilysys, Inc. (NASDAQ:AGYS) CEO Ramesh Srinivasan sold 106,205 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $106.62, for a total transaction of $11,323,577.10. Following the sale, the chief executive officer owned 635,044 shares of the company’s stock, valued at approximately $67,708,391.28. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ramesh Srinivasan also recently made the following trade(s):

• On Friday, August 7th, Ramesh Srinivasan sold 25,000 shares of Agilysys stock. The stock was sold at an average price of $108.15, for a total value of $2,703,750.00.
• On Wednesday, August 5th, Ramesh Srinivasan sold 66,205 shares of Agilysys stock. The shares were sold at an average price of $109.63, for a total value of $7,258,054.15.

Agilysys Stock Performance

Shares of Agilysys stock opened at $108.58 on Friday. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $145.25. The company’s 50 day moving average price is $100.26 and its 200-day moving average price is $84.73. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 71.91 and a beta of 0.37.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AGYS shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. UBS Group set a $110.00 target price on shares of Agilysys in a research note on Wednesday, June 3rd. Zacks Research cut shares of Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Needham & Company LLC increased their price target on shares of Agilysys from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Piper Sandler raised their price objective on shares of Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.60.

Institutional Trading of Agilysys

A number of institutional investors have recently made changes to their positions in AGYS. BlackRock Inc. purchased a new stake in Agilysys in the second quarter worth approximately $431,704,000. Deutsche Bank AG purchased a new stake in Agilysys during the 2nd quarter valued at $21,593,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Agilysys during the 2nd quarter valued at $194,000. Persistent Asset Partners Ltd bought a new position in shares of Agilysys during the 2nd quarter valued at $107,000. Finally, Global Retirement Partners LLC bought a new position in shares of Agilysys during the 2nd quarter valued at $92,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

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.