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

Riverbridge Partners LLC trimmed its position in Agilysys, Inc. (NASDAQ:AGYS) by 22.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,054 shares of the software maker’s stock after selling 76,103 shares during the quarter. Riverbridge Partners LLC owned approximately 0.91% of Agilysys worth $18,216,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Agilysys by 419.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock valued at $25,000 after acquiring an additional 172 shares during the period. Los Angeles Capital Management LLC acquired a new position in Agilysys in the 4th quarter worth approximately $34,000. Measured Wealth Private Client Group LLC purchased a new position in Agilysys during the 3rd quarter worth approximately $43,000. Advisors Asset Management Inc. grew its position in Agilysys by 30.1% during the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock worth $50,000 after purchasing an additional 159 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Agilysys by 31.1% during the 4th quarter. GAMMA Investing LLC now owns 552 shares of the software maker’s stock valued at $66,000 after purchasing an additional 131 shares during the period. 88.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on AGYS. Zacks Research raised Agilysys from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 3rd. Weiss Ratings raised Agilysys from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. UBS Group set a $110.00 price objective on Agilysys in a research note on Wednesday, June 3rd. Piper Sandler initiated coverage on Agilysys in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $110.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 target price on shares of Agilysys in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Agilysys has an average rating of “Moderate Buy” and an average target price of $116.00.

Agilysys Stock Up 2.3%

Shares of NASDAQ:AGYS opened at $86.37 on Wednesday. The firm has a fifty day moving average of $77.15 and a two-hundred day moving average of $87.79. Agilysys, Inc. has a 12-month low of $61.50 and a 12-month high of $145.25. The firm has a market capitalization of $2.43 billion, a P/E ratio of 63.51 and a beta of 0.41.

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. The business had revenue of $82.95 million during the quarter, compared to analyst estimates of $81.56 million. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.Agilysys’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. Equities research analysts expect that Agilysys, Inc. will post 1.77 earnings per share for the current fiscal year.

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.