Brown Capital Management LLC Sells 69,148 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Brown Capital Management LLC cut its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 9.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 683,661 shares of the software maker’s stock after selling 69,148 shares during the quarter. Agilysys comprises approximately 1.6% of Brown Capital Management LLC’s portfolio, making the stock its 21st largest holding. Brown Capital Management LLC’s holdings in Agilysys were worth $74,499,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AGYS. Intech Investment Management LLC increased its position in Agilysys by 129.3% in the 3rd quarter. Intech Investment Management LLC now owns 14,992 shares of the software maker’s stock valued at $1,634,000 after acquiring an additional 8,453 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Agilysys by 117.4% during the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Agilysys in the third quarter valued at approximately $689,000. Thrivent Financial for Lutherans increased its holdings in shares of Agilysys by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 188,536 shares of the software maker’s stock valued at $20,545,000 after purchasing an additional 3,148 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Agilysys by 4.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,589 shares of the software maker’s stock worth $827,000 after purchasing an additional 312 shares during the last quarter. 88.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AGYS shares. Needham & Company LLC boosted their target price on Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. StockNews.com cut Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. BTIG Research raised their target price on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Oppenheimer increased their price objective on shares of Agilysys from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $145.00 target price (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.80.

Agilysys Trading Up 2.1 %

Shares of NASDAQ:AGYS opened at $125.78 on Thursday. The company has a 50-day simple moving average of $111.40 and a 200 day simple moving average of $105.23. The company has a market capitalization of $3.52 billion, a P/E ratio of 35.83 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. Agilysys, Inc. has a 52-week low of $73.52 and a 52-week high of $128.61.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Sell-side analysts forecast that Agilysys, Inc. will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total value of $1,097,700.00. Following the sale, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at $85,441,345.59. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO William David Wood III sold 588 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $59,305.68. Following the transaction, the chief financial officer now directly owns 49,479 shares of the company’s stock, valued at approximately $4,990,451.94. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,023 shares of company stock worth $4,548,979 in the last quarter. Corporate insiders own 19.30% of the company’s stock.

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.