Agilysys (NASDAQ:AGYS) Hits New 1-Year High – What’s Next?

Shares of Agilysys, Inc. (NASDAQ:AGYS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $129.62 and last traded at $129.62, with a volume of 9013 shares. The stock had previously closed at $125.78.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AGYS shares. BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Oppenheimer boosted their price target on shares of Agilysys from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price target on shares of Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Northland Securities reissued an “outperform” rating and issued a $145.00 price target (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.80.

Agilysys Trading Up 4.2 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 39.17 and a beta of 0.85. The business’s 50-day simple moving average is $112.01 and its 200-day simple moving average is $105.41.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $68.30 million during the quarter, compared to analysts’ expectations of $67.54 million. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. Agilysys’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. On average, research analysts expect that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total value of $435,320.00. Following the completion of the sale, the insider now directly owns 22,888 shares of the company’s stock, valued at $2,490,901.04. This represents a 14.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Melvin L. Keating sold 3,280 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $122.84, for a total value of $402,915.20. Following the completion of the sale, the director now directly owns 34,407 shares of the company’s stock, valued at approximately $4,226,555.88. This trade represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,023 shares of company stock valued at $4,548,979 in the last ninety days. 19.30% of the stock is owned by insiders.

Institutional Trading of Agilysys

A number of large investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky increased its stake in Agilysys by 5.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,987 shares of the software maker’s stock worth $2,396,000 after purchasing an additional 1,155 shares in the last quarter. Geode Capital Management LLC boosted its position in Agilysys by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock worth $57,614,000 after acquiring an additional 30,655 shares during the last quarter. Barclays PLC boosted its position in Agilysys by 105.2% during the 3rd quarter. Barclays PLC now owns 50,572 shares of the software maker’s stock worth $5,512,000 after acquiring an additional 25,926 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Agilysys during the 3rd quarter worth approximately $463,000. Finally, DF Dent & Co. Inc. acquired a new position in Agilysys during the 3rd quarter worth approximately $5,849,000. 88.00% of the stock is owned by institutional investors.

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.