Alliancebernstein L.P. Reduces Position in Agilysys, Inc. (NASDAQ:AGYS)

Alliancebernstein L.P. decreased its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,385 shares of the software maker’s stock after selling 521 shares during the quarter. Alliancebernstein L.P. owned about 0.09% of Agilysys worth $3,343,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AGYS. Harbor Investment Advisory LLC grew its holdings in shares of Agilysys by 109.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock worth $49,000 after purchasing an additional 193 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Agilysys by 381.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock valued at $57,000 after acquiring an additional 336 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Agilysys in the 4th quarter valued at about $61,000. Assetmark Inc. purchased a new position in Agilysys in the fourth quarter worth approximately $115,000. Finally, KBC Group NV grew its stake in shares of Agilysys by 71.3% during the fourth quarter. KBC Group NV now owns 1,127 shares of the software maker’s stock worth $148,000 after purchasing an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AGYS. Needham & Company LLC cut their price target on shares of Agilysys from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Oppenheimer decreased their price target on Agilysys from $135.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. UBS Group set a $100.00 price objective on Agilysys in a report on Wednesday, March 5th. Craig Hallum cut their price target 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. Finally, Northland Securities lifted their price objective on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Agilysys presently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Agilysys Stock Performance

NASDAQ:AGYS opened at $69.17 on Tuesday. The firm has a 50 day simple moving average of $76.97 and a 200-day simple moving average of $105.01. 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 firm has a market cap of $1.93 billion, a PE ratio of 86.46 and a beta of 0.64. Agilysys, Inc. has a 1-year low of $63.71 and a 1-year high of $142.64.

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

Insider Transactions at Agilysys

In other news, Director John Mutch sold 750 shares of Agilysys stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $75.33, for a total transaction of $56,497.50. Following the sale, the director now directly owns 31,904 shares of the company’s stock, valued at approximately $2,403,328.32. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of Agilysys stock in a transaction that occurred 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 sale, the director now owns 255,576 shares in the company, valued at $32,757,175.92. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,750 shares of company stock worth $3,837,138 in the last three months. 19.30% of the stock is currently owned by company insiders.

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.