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 research note released on Friday morning.

Other analysts have also issued reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $125.00 price target on shares of Agilysys in a research note on Monday, September 16th. BTIG Research increased their price target on Agilysys from $95.00 to $118.00 and gave the company a buy rating in a report on Friday, July 19th. Northland Securities raised their price target on Agilysys from $118.00 to $132.00 and gave the stock an outperform rating in a research note on Monday, September 16th. William Blair started coverage on Agilysys in a research report on Monday, June 24th. They set an outperform rating for the company. Finally, Oppenheimer raised their target price on Agilysys from $100.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, July 19th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $124.00.

Agilysys Stock Up 0.9 %

Shares of NASDAQ AGYS opened at $108.97 on Friday. The firm has a market cap of $2.99 billion, a P/E ratio of 34.48 and a beta of 0.83. Agilysys has a twelve month low of $63.78 and a twelve month high of $114.70. The company has a 50 day moving average of $107.42 and a 200 day moving average of $96.91.

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

Insider Transactions at Agilysys

In related news, insider Chris J. Robertson sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total transaction of $435,320.00. Following the completion of the transaction, the insider now directly owns 22,888 shares in the company, valued at approximately $2,490,901.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Chris J. Robertson sold 4,000 shares of Agilysys stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total transaction of $435,320.00. Following the transaction, the insider now owns 22,888 shares in the company, valued at approximately $2,490,901.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the director now owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $3,734,810 over the last quarter. 23.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Truist Financial Corp lifted its holdings in shares of Agilysys by 43.6% in the second quarter. Truist Financial Corp now owns 15,651 shares of the software maker’s stock worth $1,630,000 after buying an additional 4,752 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Agilysys by 49.0% in the second quarter. Driehaus Capital Management LLC now owns 218,292 shares of the software maker’s stock worth $22,733,000 after purchasing an additional 71,809 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Agilysys during the second quarter valued at approximately $1,497,000. The Manufacturers Life Insurance Company grew its holdings in Agilysys by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,505 shares of the software maker’s stock valued at $1,406,000 after buying an additional 1,174 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C raised its holdings in shares of Agilysys by 9.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 8,752 shares of the software maker’s stock worth $911,000 after acquiring an additional 753 shares in the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.

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.