In a series of transactions disclosed in a recent SEC filing, the Kaufman 2012 Descendants Trust, with David N. Smith as trustee, sold a significant portion of its holdings in Agilisys Inch. (NASDAQ:), a company that has generated impressive returns of over 67% over the past year. The transactions, executed according to the Rule 10b5-1 plan, took place on January 2, January 3 and January 6, 2025. According InvestingPro analysis, the company is currently trading above its fair value, with analysts maintaining a price target of between $125-150.
The Trust sold a total of 22,500 shares of Agilysys common stock, generating approximately $2.95 million. Selling prices ranged between $130.34 and $132.66 per share. Following these transactions, the trust now holds 315,576 shares of Agilysys.
The foundation is a subsidiary of Michael Kaufman, CEO of Agilysys. However, Kaufman has no trading authority over the trust and disclaims beneficial ownership of the shares he holds.
In other recent news, Agilysys, a global provider of hospitality software solutions, reported record revenue of $68.3 million for the second quarter of fiscal year 2025, an increase of 16.5% year-over-year. This growth was significantly influenced by the strategic acquisition of Book4Time, which enhanced the spa management software offering. Subscription revenue also saw a significant increase of 36.6%, reaching $25.1 million, demonstrating Agilysys’ successful expansion and modernization efforts.
Agilysys also announced the expansion of its Board of Directors and the appointment of Lisa Pope, an experienced technology executive. Pope’s experience in scaling software-as-a-service businesses is expected to contribute to Agilysys’ growth strategy. Furthermore, Agilysys raised its full-year revenue forecast to between $280 million and $285 million, indicating confidence in its business strategy despite challenges in certain markets.
Oppenheimer’s survey points to continued enterprise IT demand, which could be beneficial for companies like Agilysys. The research indicates an improving demand environment for enterprise vendors and similar growth prospects for IT budgets in 2025. These recent developments reflect Agilysys’ commitment to growth and strategic expansion in the hospitality software market.
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