Riverbridge Partners LLC Has $18.22 Million Stock Position in Agilysys, Inc. $AGYS

Riverbridge Partners LLC lessened its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 22.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 256,054 shares of the software maker’s stock after selling 76,103 shares during the period. Riverbridge Partners LLC’s holdings in Agilysys were worth $18,216,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AGYS. Caitong International Asset Management Co. Ltd lifted its position in shares of Agilysys by 702.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the software maker’s stock worth $39,000 after buying an additional 288 shares during the last quarter. MidFirst Bank acquired a new position in shares of Agilysys during the 4th quarter valued at about $402,000. NewEdge Advisors LLC raised its stake in shares of Agilysys by 4.5% in the 4th quarter. NewEdge Advisors LLC now owns 3,947 shares of the software maker’s stock valued at $469,000 after acquiring an additional 170 shares in the last quarter. XTX Topco Ltd acquired a new stake in Agilysys in the 4th quarter worth approximately $455,000. Finally, Twinbeech Capital LP acquired a new stake in Agilysys in the 4th quarter worth approximately $2,127,000. 88.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group set a $110.00 price target on Agilysys in a report on Wednesday, June 3rd. Oppenheimer upped their price objective on shares of Agilysys from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Agilysys from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Piper Sandler started coverage on shares of Agilysys in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $110.00 target price on the stock. Finally, Zacks Research raised shares of Agilysys from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.00.

Agilysys Stock Up 2.3%

Shares of AGYS stock opened at $86.37 on Wednesday. Agilysys, Inc. has a 12 month low of $61.50 and a 12 month high of $145.25. The firm has a market cap of $2.43 billion, a PE ratio of 63.51 and a beta of 0.41. The stock has a 50 day moving average of $77.15 and a 200-day moving average of $87.79.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, May 18th. The software maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. Agilysys had a net margin of 12.15% and a return on equity of 11.07%. The business had revenue of $82.95 million for the quarter, compared to the consensus estimate of $81.56 million. During the same quarter last year, the company posted $0.54 earnings per share. Agilysys’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Agilysys, Inc. will post 1.77 EPS for the current fiscal year.

About Agilysys

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.