Needham & Company LLC Reiterates Buy Rating for Agilysys (NASDAQ:AGYS)

Agilysys (NASDAQ:AGYS)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $125.00 price objective on the software maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 12.12% from the stock’s current price.

A number of other research firms have also recently issued reports on AGYS. BTIG Research lifted their price target on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday. Craig Hallum lifted their target price on shares of Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Northland Securities upped their price target on shares of Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. StockNews.com upgraded Agilysys from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer raised their target price on Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $125.20.

Agilysys Trading Up 1.2 %

Shares of AGYS stock opened at $111.49 on Tuesday. Agilysys has a 12-month low of $73.52 and a 12-month high of $125.73. The business’s 50 day moving average is $109.17 and its two-hundred day moving average is $101.56. The company has a market capitalization of $3.11 billion, a P/E ratio of 30.80 and a beta of 0.83.

Insider Transactions at Agilysys

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction dated 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 transaction, the chief executive officer now directly owns 738,367 shares of the company’s stock, valued at $75,335,585.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the completion of the sale, the chief executive officer now owns 738,367 shares of the company’s stock, valued at $75,335,585.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Mutch sold 1,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were 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 in the company, valued at approximately $4,129,902.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock worth $3,734,810 in the last ninety days. Insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Agilysys

A number of institutional investors have recently made changes to their positions in AGYS. GAMMA Investing LLC lifted its holdings in shares of Agilysys by 162.1% in the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after acquiring an additional 154 shares during the last quarter. CWM LLC raised its position in Agilysys by 390.2% in the second quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after purchasing an additional 199 shares during the period. Larson Financial Group LLC acquired a new position in Agilysys during the second quarter worth $32,000. NBC Securities Inc. acquired a new stake in shares of Agilysys in the third quarter valued at $46,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Agilysys by 76.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock valued at $52,000 after buying an additional 205 shares during the period. 88.00% of the stock is currently 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.