Needham & Company LLC Reaffirms “Buy” Rating for Agilysys (NASDAQ:AGYS)

Needham & Company LLC restated their buy rating on shares of Agilysys (NASDAQ:AGYS) in a report issued on Monday, Benzinga reports. They currently have a $125.00 price target on the software maker’s stock.

Several other research analysts also recently commented on the company. Oppenheimer raised their target price on Agilysys from $100.00 to $120.00 and gave the stock an outperform rating in a research note on Friday, July 19th. William Blair started coverage on shares of Agilysys in a research note on Monday, June 24th. They set an outperform rating for the company. Craig Hallum increased their target price on shares of Agilysys from $105.00 to $125.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. StockNews.com lowered shares of Agilysys from a buy rating to a hold rating in a research report on Thursday, July 4th. Finally, BTIG Research increased their price objective on Agilysys from $95.00 to $118.00 and gave the stock a buy rating in a research report on Friday, July 19th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Agilysys presently has an average rating of Buy and a consensus price target of $124.00.

Agilysys Trading Down 2.1 %

Shares of NASDAQ AGYS opened at $101.31 on Monday. Agilysys has a 1-year low of $63.78 and a 1-year high of $114.70. The stock has a fifty day simple moving average of $107.48 and a two-hundred day simple moving average of $95.27. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 32.06 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $63.50 million during the quarter, compared to analyst estimates of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. Agilysys’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Analysts forecast that Agilysys will post 0.62 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the sale, the chief executive officer now owns 738,367 shares in the company, valued at approximately $75,335,585.01. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at approximately $75,335,585.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Mutch sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the transaction, the director now owns 36,326 shares in the company, valued at $4,129,902.94. The disclosure for this sale can be found here. Insiders sold a total of 141,578 shares of company stock valued at $14,107,417 in the last quarter. Corporate insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

A number of hedge funds and other institutional investors have recently modified their holdings of AGYS. Vanguard Group Inc. boosted its stake in shares of Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares during the period. Axiom Investors LLC DE raised its holdings in Agilysys by 421.7% during the 4th quarter. Axiom Investors LLC DE now owns 58,040 shares of the software maker’s stock valued at $4,923,000 after buying an additional 46,915 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Agilysys by 13.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after buying an additional 87,549 shares during the period. Geneva Capital Management LLC grew its holdings in Agilysys by 10.6% in the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock worth $57,805,000 after acquiring an additional 65,672 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Agilysys by 91.6% in the first quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock valued at $2,797,000 after acquiring an additional 15,870 shares during the period. Institutional investors own 88.00% of the company’s stock.

Agilysys Company Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.