Should You Hold Agilysys (AGYS)?

·2 min read

Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Growth—U.S. Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy declined and underperformed its benchmark, the Russell Microcap Index in the fourth quarter, which gained 4.72%. The disappointing returns in industrials, financials, and consumer discretionary were the primary source of the strategy’s weakness relative to the benchmark while consumer staples positively contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Micro Cap Growth—U.S. Strategy highlighted stocks like Agilysys, Inc. (NASDAQ:AGYS) in its Q4 2022 investor letter. Headquartered in Alpharetta, Georgia, Agilysys, Inc. (NASDAQ:AGYS) is a hardware and software products and services developer and marketer for the healthcare industry. On March 21, 2023, Agilysys, Inc. (NASDAQ:AGYS) stock closed at $78.58 per share. One-month return of Agilysys, Inc. (NASDAQ:AGYS) was -1.73%, and its shares gained 89.58% of their value over the last 52 weeks. Agilysys, Inc. (NASDAQ:AGYS) has a market capitalization of $1.981 billion.

Wasatch Micro Cap Growth—U.S. Strategy made the following comment about Agilysys, Inc. (NASDAQ:AGYS) in its Q4 2022 investor letter:

"Agilysys, Inc. (NASDAQ:AGYS) was the top contributor to strategy performance during the fourth quarter. The company develops application software for point-of-sale, property-management, inventory and procurement applications. Agilysys specializes in the hospitality and retail industries world-wide, and its solutions can be implemented on wireless and mobile devices. The company recently modernized its software, which has proved fortuitous as post-pandemic consumer and business travel has accelerated. On December 15, Agilysys announced an agreement to deploy its cloud-based property-management system software across Marriott’s luxury, premium and select service hotels in the United States and Canada. Beyond the incremental earnings and cash flows related to Marriott, the agreement should help Agilysys win new customers on an ongoing basis.”

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Agilysys, Inc. (NASDAQ:AGYS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Agilysys, Inc. (NASDAQ:AGYS) at the end of the fourth quarter which was 17 in the previous quarter.

We discussed Agilysys, Inc. (NASDAQ:AGYS) in another article and shared the list of high growth software stocks that are profitable. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.