Polar Asset Management Partners Inc. Cuts Position in Agilysys, Inc. $AGYS

Polar Asset Management Partners Inc. decreased its position in Agilysys, Inc. (NASDAQ:AGYS) by 33.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,596 shares of the software maker’s stock after selling 12,604 shares during the quarter. Polar Asset Management Partners Inc. owned 0.09% of Agilysys worth $2,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AGYS. Global Retirement Partners LLC increased its position in Agilysys by 118.5% in the third quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock worth $27,000 after purchasing an additional 141 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Agilysys during the second quarter valued at $30,000. Farther Finance Advisors LLC lifted its position in Agilysys by 215.5% during the third quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock valued at $39,000 after purchasing an additional 250 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Agilysys in the 3rd quarter worth $43,000. Finally, Bessemer Group Inc. grew its stake in shares of Agilysys by 194.3% in the 3rd quarter. Bessemer Group Inc. now owns 412 shares of the software maker’s stock worth $44,000 after buying an additional 272 shares in the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Agilysys in a report on Wednesday, January 21st. Wall Street Zen lowered Agilysys from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. UBS Group reissued a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Needham & Company LLC decreased their price objective on Agilysys from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Finally, Oppenheimer raised their price objective on Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.40.

Agilysys Trading Up 3.0%

Agilysys stock opened at $69.56 on Friday. Agilysys, Inc. has a 12-month low of $63.71 and a 12-month high of $145.25. The firm has a 50-day moving average price of $86.62 and a 200-day moving average price of $106.55. The firm has a market capitalization of $1.96 billion, a PE ratio of 65.01 and a beta of 0.36.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The firm had revenue of $80.39 million during the quarter, compared to analysts’ expectations of $79.07 million. Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. As a group, sell-side analysts predict that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Agilysys

In other Agilysys news, Director Melvin L. Keating purchased 300 shares of Agilysys stock in a transaction dated Tuesday, February 3rd. The shares were purchased at an average cost of $83.62 per share, for a total transaction of $25,086.00. Following the completion of the acquisition, the director owned 35,007 shares in the company, valued at $2,927,285.34. This represents a 0.86% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 1,000 shares of company stock worth $77,669 over the last quarter. Corporate insiders own 8.60% of the company’s stock.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.