Short Interest in Agilysys, Inc. (NASDAQ:AGYS) Declines By 18.1%

Agilysys, Inc. (NASDAQ:AGYS) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 909,300 shares, a decline of 18.1% from the January 31st total of 1,110,000 shares. Based on an average trading volume of 331,100 shares, the short-interest ratio is currently 2.7 days.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AGYS. Needham & Company LLC reduced their target price on shares of Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Northland Securities increased their target price on shares of Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Oppenheimer cut their price objective on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Finally, Craig Hallum cut their price objective on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Agilysys has an average rating of “Moderate Buy” and an average target price of $133.00.

Insider Transactions at Agilysys

In other Agilysys news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $96.68, for a total value of $725,100.00. Following the completion of the sale, the director now owns 233,076 shares in the company, valued at approximately $22,533,787.68. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 67,500 shares of company stock valued at $8,496,000 over the last three months. Corporate insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Agilysys

A number of large investors have recently added to or reduced their stakes in AGYS. Invesco Ltd. raised its position in Agilysys by 412.9% in the 4th quarter. Invesco Ltd. now owns 727,794 shares of the software maker’s stock worth $95,858,000 after purchasing an additional 585,886 shares during the period. Franklin Resources Inc. increased its position in shares of Agilysys by 521.7% in the fourth quarter. Franklin Resources Inc. now owns 610,028 shares of the software maker’s stock valued at $80,347,000 after acquiring an additional 511,900 shares during the period. FMR LLC increased its position in shares of Agilysys by 1,197.1% in the third quarter. FMR LLC now owns 505,690 shares of the software maker’s stock valued at $55,105,000 after acquiring an additional 466,704 shares during the period. JPMorgan Chase & Co. increased its position in shares of Agilysys by 729.1% in the fourth quarter. JPMorgan Chase & Co. now owns 398,508 shares of the software maker’s stock valued at $52,487,000 after acquiring an additional 350,441 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in shares of Agilysys by 47.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock valued at $115,383,000 after acquiring an additional 340,424 shares during the period. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Stock Performance

Agilysys stock opened at $78.89 on Friday. The firm’s fifty day moving average price is $101.68 and its 200-day moving average price is $111.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 1.14. The stock has a market cap of $2.21 billion, a P/E ratio of 98.61 and a beta of 0.93. Agilysys has a fifty-two week low of $74.03 and a fifty-two week high of $142.64.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $73.15 million. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. On average, equities research analysts expect that Agilysys will post 0.8 earnings per share for the current fiscal year.

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.