Arrowstreet Capital Limited Partnership Cuts Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Arrowstreet Capital Limited Partnership decreased its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 29.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,909 shares of the software maker’s stock after selling 5,431 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Agilysys were worth $1,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AGYS. Harbor Investment Advisory LLC grew its holdings in Agilysys by 109.0% in the fourth 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 last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Agilysys by 381.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock valued at $57,000 after purchasing an additional 336 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Agilysys in the 4th quarter worth $61,000. Assetmark Inc. purchased a new position in Agilysys during the 4th quarter worth $115,000. Finally, KBC Group NV increased its position in Agilysys by 71.3% during the 4th quarter. KBC Group NV now owns 1,127 shares of the software maker’s stock valued at $148,000 after buying 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 equities research analysts have weighed in on AGYS shares. Craig Hallum lowered their price target on Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC lowered their target price on shares of Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Oppenheimer cut their price target on shares of Agilysys from $135.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday. UBS Group set a $100.00 price objective on shares of Agilysys in a research note on Wednesday, March 5th. 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 report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Agilysys Stock Down 4.0 %

Shares of NASDAQ AGYS opened at $70.01 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $77.72 and its two-hundred day moving average is $105.58. Agilysys, Inc. has a 52-week low of $63.71 and a 52-week high of $142.64. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 87.51 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 for the quarter, topping the consensus estimate of $0.34 by $0.04. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The firm had revenue of $69.60 million for the quarter, compared to the consensus estimate of $73.15 million. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts predict that Agilysys, Inc. will post 0.8 EPS for the current year.

Insider Activity

In other Agilysys news, Director John Mutch sold 750 shares of the company’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 in the company, valued at $2,403,328.32. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $132.98, for a total value of $997,350.00. Following the completion of the sale, the director now directly owns 270,576 shares of the company’s stock, valued at approximately $35,981,196.48. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,250 shares of company stock worth $4,784,088. 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.