BidaskClub downgraded shares of Agilysys (NASDAQ:AGYS) from a buy rating to a hold rating in a research note published on Wednesday morning.

Shares of Agilysys (AGYS) traded up $0.15 on Wednesday, hitting $12.54. 33,946 shares of the stock were exchanged, compared to its average volume of 53,629. Agilysys has a fifty-two week low of $8.60 and a fifty-two week high of $12.98. The stock has a market cap of $290.95, a PE ratio of -21.62 and a beta of 0.39.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Wednesday, November 1st. The software maker reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). Agilysys had a negative return on equity of 11.69% and a negative net margin of 10.33%. The business had revenue of $30.13 million for the quarter. During the same period last year, the business posted ($0.11) earnings per share.

In other news, CEO Ramesh Srinivasan bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average price of $11.77 per share, for a total transaction of $588,500.00. Following the completion of the transaction, the chief executive officer now owns 35,000 shares in the company, valued at $411,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 34.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AGYS. Alliancebernstein L.P. boosted its position in Agilysys by 3.8% during the second quarter. Alliancebernstein L.P. now owns 10,950 shares of the software maker’s stock worth $111,000 after acquiring an additional 400 shares during the last quarter. Voya Investment Management LLC boosted its position in Agilysys by 20.2% during the second quarter. Voya Investment Management LLC now owns 12,691 shares of the software maker’s stock worth $128,000 after acquiring an additional 2,132 shares during the last quarter. OxFORD Asset Management LLP acquired a new stake in Agilysys during the third quarter worth approximately $154,000. Russell Investments Group Ltd. acquired a new stake in Agilysys during the third quarter worth approximately $179,000. Finally, SG Americas Securities LLC acquired a new stake in Agilysys during the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.

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Agilysys Company Profile

Agilysys, Inc is a technology company. The Company provides software for point-of-sale (POS), property management, inventory and procurement, workforce management, analytics, document management, and mobile and wireless solutions and services to the hospitality industry. The Company serves four market sectors: gaming, both corporate and tribal; hotels, resorts and cruise; foodservice management, and restaurants, universities, stadia and healthcare.

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