Agilysys (NASDAQ:AGYS) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a buy rating in a report released on Friday morning.

Several other equities research analysts also recently commented on AGYS. Northland Securities increased their price objective on Agilysys from $118.00 to $132.00 and gave the company an outperform rating in a report on Monday, September 16th. Oppenheimer raised their price objective on Agilysys from $100.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, July 19th. 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. BTIG Research upped their target price on shares of Agilysys from $95.00 to $118.00 and gave the stock a buy rating in a report on Friday, July 19th. Finally, Needham & Company LLC reiterated a buy rating and set a $125.00 price target on shares of Agilysys in a report on Monday, September 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $124.00.

Agilysys Stock Down 1.7 %

Shares of AGYS opened at $107.97 on Friday. Agilysys has a 12 month low of $63.78 and a 12 month high of $114.70. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 34.17 and a beta of 0.83. The company’s fifty day moving average is $107.42 and its 200-day moving average is $96.76.

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

Insider Activity at Agilysys

In related news, Director John Mutch sold 1,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $113.69, for a total value of $113,690.00. Following the completion of the transaction, the director now directly owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director John Mutch sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total value of $113,690.00. Following the transaction, the director now owns 36,326 shares in the company, valued at approximately $4,129,902.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris J. Robertson sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total value of $435,320.00. Following the transaction, the insider now directly owns 22,888 shares of the company’s stock, valued at $2,490,901.04. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock worth $3,734,810 in the last three months. Company insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in 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 last quarter. Wasatch Advisors LP increased its holdings in shares of Agilysys by 439.5% in the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after acquiring an additional 820,840 shares during the period. Fred Alger Management LLC lifted its position in Agilysys by 1.9% in the 2nd quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock valued at $97,689,000 after purchasing an additional 17,898 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake 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 purchasing an additional 87,549 shares during the period. Finally, Geneva Capital Management LLC grew its position 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 purchasing an additional 65,672 shares during the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

About Agilysys

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.