Agilysys, Inc. (NASDAQ:AGYS) Short Interest Up 27.1% in June

Agilysys, Inc. (NASDAQ:AGYS) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 407,300 shares, a growth of 27.1% from the May 31st total of 320,500 shares. Based on an average daily volume of 213,700 shares, the short-interest ratio is currently 1.9 days.

Agilysys Trading Down 0.7 %

NASDAQ:AGYS opened at $103.43 on Tuesday. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 32.73 and a beta of 0.82. Agilysys has a 1-year low of $63.78 and a 1-year high of $105.00. The business’s 50-day moving average price is $92.64 and its two-hundred day moving average price is $85.55.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, May 13th. The software maker reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $62.22 million for the quarter, compared to the consensus estimate of $61.95 million. Agilysys had a net margin of 36.30% and a return on equity of 15.52%. Agilysys’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. Sell-side analysts predict that Agilysys will post 0.69 earnings per share for the current year.

Insider Activity at Agilysys

In other Agilysys news, CEO Ramesh Srinivasan sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $96.50, for a total value of $4,825,000.00. Following the transaction, the chief executive officer now owns 988,367 shares of the company’s stock, valued at $95,377,415.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Agilysys news, CEO Ramesh Srinivasan sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $96.50, for a total value of $4,825,000.00. Following the completion of the transaction, the chief executive officer now directly owns 988,367 shares of the company’s stock, valued at $95,377,415.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kyle C. Badger sold 8,948 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $99.15, for a total transaction of $887,194.20. Following the sale, the senior vice president now directly owns 166,943 shares in the company, valued at $16,552,398.45. The disclosure for this sale can be found here. Insiders sold 700,392 shares of company stock valued at $67,319,669 in the last three months. Corporate insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

A number of hedge funds and other institutional investors have recently made changes to their positions in AGYS. RiverPark Advisors LLC lifted its holdings in Agilysys by 53.2% during the fourth quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $32,000 after acquiring an additional 133 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Agilysys during the 1st quarter valued at about $35,000. Pacer Advisors Inc. lifted its holdings in shares of Agilysys by 247.6% during the 4th quarter. Pacer Advisors Inc. now owns 511 shares of the software maker’s stock valued at $43,000 after purchasing an additional 364 shares in the last quarter. Covestor Ltd grew its position in shares of Agilysys by 99.9% in the 1st quarter. Covestor Ltd now owns 2,277 shares of the software maker’s stock valued at $192,000 after purchasing an additional 1,138 shares during the period. Finally, Vawter Financial Ltd. bought a new stake in Agilysys during the 3rd quarter worth approximately $245,000. 88.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AGYS. Oppenheimer upped their price target on Agilysys from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Needham & Company LLC upped their target price on shares of Agilysys from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. William Blair started coverage on shares of Agilysys in a research report on Monday, June 24th. They set an “outperform” rating for the company. Finally, StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.33.

Agilysys Company Profile

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.