Huntington National Bank Acquires 702 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Huntington National Bank lifted its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 319.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 922 shares of the software maker’s stock after acquiring an additional 702 shares during the quarter. Huntington National Bank’s holdings in Agilysys were worth $121,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harbor Investment Advisory LLC boosted its stake in Agilysys by 109.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock worth $49,000 after acquiring an additional 193 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Agilysys by 381.8% during the fourth 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 bought a new stake in shares of Agilysys in the 4th quarter worth approximately $61,000. Assetmark Inc. purchased a new stake in shares of Agilysys in the 4th quarter worth approximately $115,000. Finally, KBC Group NV raised its stake in Agilysys by 71.3% during the fourth 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 during the last quarter. 88.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John Mutch sold 750 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $75.33, for a total transaction of $56,497.50. Following the completion of the sale, the director now directly owns 31,904 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $132.04, for a total transaction of $990,300.00. Following the sale, the director now directly owns 300,576 shares of the company’s stock, valued at approximately $39,688,055.04. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,250 shares of company stock valued at $6,751,563 over the last 90 days. Company insiders own 19.30% of the company’s stock.

Agilysys Stock Performance

Shares of NASDAQ AGYS opened at $69.35 on Monday. The firm’s 50-day moving average price is $80.26 and its 200-day moving average price is $107.14. Agilysys, Inc. has a 52-week low of $67.19 and a 52-week high of $142.64. The company has a market cap of $1.94 billion, a PE ratio of 86.69 and a beta of 0.64. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AGYS. Needham & Company LLC cut their target price on Agilysys from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Craig Hallum reduced their price objective on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Oppenheimer dropped their target price 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. Northland Securities raised their price target on shares of Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, UBS Group set a $100.00 price objective on Agilysys in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.50.

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.