Principal Financial Group Inc. Has $48.57 Million Stake in Agilysys, Inc. $AGYS

Principal Financial Group Inc. raised its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 14.6% in the 3rd quarter, Holdings Channel reports. The firm owned 461,482 shares of the software maker’s stock after purchasing an additional 58,691 shares during the quarter. Principal Financial Group Inc.’s holdings in Agilysys were worth $48,571,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC raised its position in shares of Agilysys by 118.5% during the third quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock worth $27,000 after acquiring an additional 141 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Agilysys during the 2nd quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its holdings in Agilysys by 215.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock worth $39,000 after purchasing an additional 250 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Agilysys by 38.0% in the 3rd quarter. GAMMA Investing LLC now owns 421 shares of the software maker’s stock worth $44,000 after purchasing an additional 116 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 88.00% of the company’s stock.

Agilysys Price Performance

AGYS stock opened at $86.88 on Thursday. The company’s 50-day moving average is $114.79 and its 200-day moving average is $114.03. The stock has a market capitalization of $2.44 billion, a PE ratio of 81.20 and a beta of 0.41. Agilysys, Inc. has a 1 year low of $63.71 and a 1 year high of $145.25.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results 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). Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The firm had revenue of $80.39 million for the quarter, compared to analyst estimates of $79.07 million. During the same period last year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $140.00 price target on shares of Agilysys in a report on Tuesday, October 28th. Zacks Research downgraded Agilysys from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 28th. Oppenheimer upped their target price on Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $145.40.

Insider Activity at Agilysys

In related news, insider Chris J. Robertson sold 500 shares of Agilysys stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $131.34, for a total value of $65,670.00. Following the completion of the sale, the insider owned 687 shares of the company’s stock, valued at approximately $90,230.58. This trade represents a 42.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Melvin L. Keating acquired 300 shares of the stock in a transaction on Tuesday, February 3rd. The shares were acquired at an average price of $83.62 per share, for a total transaction of $25,086.00. Following the acquisition, the director owned 35,007 shares of the company’s stock, valued at approximately $2,927,285.34. The trade was a 0.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 8.60% of the stock is currently owned by insiders.

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.