Short Interest in Agilysys, Inc. (NASDAQ:AGYS) Grows By 13.0%

Agilysys, Inc. (NASDAQ:AGYS) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 709,800 shares, a growth of 13.0% from the October 15th total of 628,100 shares. Based on an average trading volume of 202,500 shares, the days-to-cover ratio is presently 3.5 days.

Analysts Set New Price Targets

A number of analysts recently issued reports on AGYS shares. Northland Securities reissued an “outperform” rating and set a $145.00 price target (up from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Craig Hallum lifted their price target on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC increased their price target on Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. Finally, BTIG Research boosted their price objective on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.80.

Insider Transactions at Agilysys

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total value of $1,097,700.00. Following the sale, the chief executive officer now owns 778,367 shares in the company, valued at $85,441,345.59. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris J. Robertson sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total value of $435,320.00. Following the sale, the insider now directly owns 22,888 shares in the company, valued at approximately $2,490,901.04. This trade represents a 14.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,023 shares of company stock worth $4,548,979 over the last 90 days. 19.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after buying an additional 217,008 shares in the last quarter. SG Americas Securities LLC purchased a new position in Agilysys in the 2nd quarter worth approximately $1,847,000. UniSuper Management Pty Ltd acquired a new position in shares of Agilysys during the 1st quarter worth approximately $388,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Agilysys by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock worth $33,970,000 after purchasing an additional 20,703 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new stake in shares of Agilysys in the second quarter valued at approximately $1,111,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Stock Up 0.3 %

AGYS opened at $121.19 on Friday. The company has a market cap of $3.39 billion, a PE ratio of 34.53 and a beta of 0.85. Agilysys has a twelve month low of $73.52 and a twelve month high of $128.61. The company has a 50-day moving average price of $109.68 and a 200 day moving average price of $103.93. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $68.30 million during the quarter, compared to analysts’ expectations of $67.54 million. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts expect that Agilysys will post 0.81 earnings per share for the current fiscal year.

Agilysys Company Profile

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.