Agilysys, Inc. (NASDAQ:AGYS) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 39.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,748 shares of the software maker’s stock after purchasing an additional 1,069 shares during the period. Pictet Asset Management Holding SA’s holdings in Agilysys were worth $494,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Agilysys by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 2,209,274 shares of the software maker’s stock worth $290,983,000 after buying an additional 58,926 shares during the period. Lord Abbett & CO. LLC boosted its holdings 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 worth $115,383,000 after buying an additional 340,424 shares during the period. State Street Corp increased its position in shares of Agilysys by 5.0% in the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after acquiring an additional 43,760 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Agilysys by 6.2% during the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock valued at $57,614,000 after acquiring an additional 30,655 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Agilysys by 4.6% in the 4th quarter. American Century Companies Inc. now owns 451,812 shares of the software maker’s stock valued at $59,508,000 after acquiring an additional 19,994 shares in the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.

Agilysys Stock Performance

Shares of NASDAQ AGYS opened at $65.76 on Wednesday. Agilysys, Inc. has a one year low of $64.25 and a one year high of $142.64. The business’s 50-day moving average price is $78.75 and its two-hundred day moving average price is $106.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. The company has a market capitalization of $1.84 billion, a P/E ratio of 82.20 and a beta of 0.64.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The firm had revenue of $69.60 million during the quarter, compared to analysts’ expectations of $73.15 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. Analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on AGYS. UBS Group set a $100.00 price objective on shares of Agilysys in a research report on Wednesday, March 5th. Craig Hallum lowered their price target on Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Northland Securities increased their price objective on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Needham & Company LLC decreased their price objective on Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, Oppenheimer dropped their target price on Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $127.50.

Insider Activity

In related news, Director John Mutch sold 750 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $75.33, for a total value of $56,497.50. Following the completion of the transaction, the director now owns 31,904 shares of the company’s stock, valued at approximately $2,403,328.32. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $126.26, for a total value of $946,950.00. Following the transaction, the director now directly owns 285,576 shares in the company, valued at $36,056,825.76. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,750 shares of company stock worth $5,761,263. 19.30% of the stock is currently owned by corporate insiders.

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.