Agilysys (NASDAQ:AGYS) Shares Gap Down After Insider Selling

Agilysys, Inc. (NASDAQ:AGYS)’s share price gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $125.90, but opened at $95.00. Agilysys shares last traded at $100.30, with a volume of 289,361 shares traded.

Specifically, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $125.49, for a total value of $941,175.00. Following the completion of the sale, the director now directly owns 248,076 shares of the company’s stock, valued at $31,131,057.24. This trade represents a 2.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of Agilysys stock in a transaction on Friday, January 17th. The stock was sold at an average price of $128.17, for a total value of $961,275.00. Following the transaction, the director now directly owns 255,576 shares of the company’s stock, valued at $32,757,175.92. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research analysts recently weighed in on AGYS shares. BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC reduced their price objective on shares of Agilysys from $145.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Craig Hallum lowered their target price on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Northland Securities boosted their price objective on shares of Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.00.

Agilysys Trading Down 20.2 %

The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average is $131.80 and its two-hundred day moving average is $116.74. The firm has a market cap of $2.81 billion, a P/E ratio of 28.64 and a beta of 0.94.

Agilysys (NASDAQ:AGYS) last released its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The firm had revenue of $69.60 million during the quarter, compared to the consensus estimate of $73,149.20 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, analysts expect that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC grew its holdings in shares of Agilysys by 47.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock worth $115,383,000 after acquiring an additional 340,424 shares during the last quarter. Fred Alger Management LLC raised its holdings in Agilysys by 1.9% during the 2nd quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock worth $97,689,000 after buying an additional 17,898 shares during the period. State Street Corp lifted its stake in Agilysys by 5.0% during the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock valued at $100,124,000 after buying an additional 43,760 shares in the last quarter. Geneva Capital Management LLC boosted its holdings in shares of Agilysys by 0.4% in the third quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker’s stock worth $73,597,000 after buying an additional 2,687 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Agilysys by 6.2% in the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock worth $57,614,000 after acquiring an additional 30,655 shares in the last quarter. Institutional investors own 88.00% of the company’s stock.

About Agilysys

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.