Artisan Partners Limited Partnership Sells 283,854 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Artisan Partners Limited Partnership reduced its position in shares of Agilysys, Inc. (NASDAQ:AGYS) by 34.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 529,227 shares of the software maker’s stock after selling 283,854 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Agilysys were worth $69,704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC increased its position in shares of Agilysys by 19.1% in the fourth quarter. Synergy Asset Management LLC now owns 86,080 shares of the software maker’s stock valued at $11,157,000 after acquiring an additional 13,785 shares during the period. State Street Corp increased its holdings in Agilysys by 5.0% during the 3rd quarter. State Street Corp now owns 918,823 shares of the software maker’s stock valued at $100,124,000 after purchasing an additional 43,760 shares during the period. Geode Capital Management LLC raised its position in Agilysys by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock valued at $57,614,000 after purchasing an additional 30,655 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Agilysys by 381.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock worth $57,000 after buying an additional 336 shares during the period. Finally, Atria Investments Inc bought a new stake in shares of Agilysys in the 4th quarter worth approximately $315,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $96.68, for a total value of $725,100.00. Following the completion of the transaction, the director now directly owns 233,076 shares in the company, valued at $22,533,787.68. The trade was a 3.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Mutch sold 750 shares of the company’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 value of $56,497.50. Following the completion of the transaction, the director now directly owns 31,904 shares in the company, valued at $2,403,328.32. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,250 shares of company stock valued at $8,708,238. 19.30% of the stock is currently owned by corporate insiders.

Agilysys Trading Down 1.5 %

NASDAQ:AGYS opened at $75.62 on Friday. The firm has a market capitalization of $2.11 billion, a P/E ratio of 94.53 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. Agilysys, Inc. has a one year low of $71.37 and a one year high of $142.64. The company’s 50-day simple moving average is $84.75 and its 200 day simple moving average is $108.30.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Oppenheimer decreased their target price on Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC cut their target price 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. Northland Securities boosted 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. UBS Group set a $100.00 price objective on shares of Agilysys in a report on Wednesday, March 5th. Finally, Craig Hallum reduced their target price on Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.50.

Agilysys 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.