StockNews.com Lowers Agilysys (NASDAQ:AGYS) to Hold

StockNews.com downgraded shares of Agilysys (NASDAQ:AGYS) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Several other research analysts have also issued reports on AGYS. BTIG Research upped their target price on Agilysys from $95.00 to $118.00 and gave the company a buy rating in a research report on Friday, July 19th. William Blair began coverage on shares of Agilysys in a report on Monday, June 24th. They set an outperform rating on the stock. Oppenheimer lifted their target price on shares of Agilysys from $100.00 to $120.00 and gave the stock an outperform rating in a research note on Friday, July 19th. Craig Hallum boosted their target price on shares of Agilysys from $105.00 to $125.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $125.00 price target on shares of Agilysys in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $124.00.

Agilysys Stock Performance

NASDAQ:AGYS opened at $114.90 on Wednesday. The company’s 50-day simple moving average is $107.33 and its 200-day simple moving average is $98.76. Agilysys has a fifty-two week low of $63.78 and a fifty-two week high of $115.52. The stock has a market capitalization of $3.15 billion, a P/E ratio of 36.36 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $63.50 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.18 earnings per share. On average, research analysts forecast that Agilysys will post 0.62 EPS for the current year.

Insider Activity

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the completion of the transaction, the chief executive officer now owns 778,367 shares of the company’s stock, valued at $85,441,345.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John Mutch sold 1,000 shares of the firm’s 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 sale, the director now owns 36,326 shares of the company’s stock, valued at $4,129,902.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the transaction, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $3,734,810 in the last ninety days. Insiders own 23.60% of the company’s stock.

Institutional Trading of Agilysys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Agilysys by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after acquiring an additional 217,008 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in Agilysys by 13.8% during the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after purchasing an additional 87,549 shares in the last quarter. Geneva Capital Management LLC grew its holdings in Agilysys by 10.6% in the first quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock valued at $57,805,000 after purchasing an additional 65,672 shares during the period. 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 buying an additional 15,870 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Agilysys during the 2nd quarter worth approximately $1,847,000. Institutional investors and hedge funds 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.