Agilysys, Inc. (NASDAQ:AGYS) Sees Significant Increase in Short Interest

Agilysys, Inc. (NASDAQ:AGYS) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,230,000 shares, an increase of 35.3% from the February 13th total of 909,300 shares. Approximately 5.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 355,900 shares, the days-to-cover ratio is presently 3.5 days.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 2,000 shares of Agilysys stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $77.87, for a total value of $155,740.00. Following the transaction, the director now owns 32,654 shares in the company, valued at approximately $2,542,766.98. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 Thursday, January 2nd. The stock was sold at an average price of $130.55, for a total transaction of $979,125.00. Following the transaction, the director now owns 330,576 shares in the company, valued at approximately $43,156,696.80. The trade was a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,500 shares of company stock worth $8,651,740. 19.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Agilysys

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Agilysys by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 2,209,274 shares of the software maker’s stock worth $290,983,000 after acquiring an additional 58,926 shares during the period. Lord Abbett & CO. LLC raised its holdings in Agilysys by 10.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,167,685 shares of the software maker’s stock worth $153,796,000 after acquiring an additional 108,827 shares during the period. State Street Corp raised its holdings in Agilysys by 5.0% in the 3rd 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 during the period. FMR LLC raised its holdings in Agilysys by 58.3% in the 4th quarter. FMR LLC now owns 800,521 shares of the software maker’s stock worth $105,437,000 after acquiring an additional 294,831 shares during the period. Finally, Invesco Ltd. raised its holdings 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 acquiring an additional 585,886 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.

Wall Street Analyst Weigh In

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

Agilysys Stock Up 0.8 %

AGYS stock opened at $74.91 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15. Agilysys has a 1 year low of $71.37 and a 1 year high of $142.64. The company has a fifty day simple moving average of $93.61 and a 200 day simple moving average of $110.12. The firm has a market cap of $2.09 billion, a PE ratio of 93.64 and a beta of 0.98.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating 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 business had revenue of $69.60 million during the quarter, compared to analyst estimates of $73.15 million. During the same quarter in the previous year, the business earned $0.35 EPS. Agilysys’s quarterly revenue was up 14.9% compared to the same quarter last year. Sell-side analysts anticipate that Agilysys will post 0.8 EPS 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.