Agilysys (AGYS) Hits New 52-Week High at $19.60

Shares of Agilysys, Inc. (NASDAQ:AGYS) reached a new 52-week high on Tuesday . The stock traded as high as $19.60 and last traded at $19.31, with a volume of 7851 shares trading hands. The stock had previously closed at $19.17.

A number of equities analysts have recently weighed in on AGYS shares. BidaskClub downgraded Agilysys from a “buy” rating to a “hold” rating in a report on Tuesday, December 4th. Maxim Group set a $22.00 target price on Agilysys and gave the stock a “buy” rating in a research report on Friday, October 19th. Finally, ValuEngine raised Agilysys from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.

In other news, CEO Ramesh Srinivasan bought 20,000 shares of Agilysys stock in a transaction that occurred on Wednesday, February 6th. The stock was purchased at an average cost of $18.40 per share, with a total value of $368,000.00. Following the completion of the transaction, the chief executive officer now directly owns 118,601 shares in the company, valued at $2,182,258.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its holdings in shares of Agilysys by 88.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,101 shares of the software maker’s stock valued at $31,000 after acquiring an additional 986 shares during the period. LS Investment Advisors LLC bought a new position in shares of Agilysys during the fourth quarter valued at $45,000. State of Alaska Department of Revenue lifted its holdings in shares of Agilysys by 18.5% during the fourth quarter. State of Alaska Department of Revenue now owns 5,889 shares of the software maker’s stock valued at $84,000 after acquiring an additional 918 shares during the period. Oregon Public Employees Retirement Fund bought a new position in shares of Agilysys during the fourth quarter valued at $96,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Agilysys during the third quarter valued at $100,000. 87.48% of the stock is owned by institutional investors.

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Agilysys Company Profile (NASDAQ:AGYS)

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. The company offers point-of-sale, property management, reservation and table management, inventory and procurement, workforce management, analytics, document management, and mobile and wireless solutions to streamline operations, and enhance efficiency and guest experience.

Further Reading: Why do company’s buyback their stock?

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