Agilysys (NASDAQ:AGYS) Issues Earnings Results

Agilysys (NASDAQ:AGYS) released its quarterly earnings results on Monday. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04, Briefing.com reports. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.54 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Agilysys’s revenue was up 16.6% on a year-over-year basis.

Agilysys Stock Performance

Shares of AGYS stock traded down $3.12 on Wednesday, hitting $99.39. The stock had a trading volume of 33,050 shares, compared to its average volume of 213,102. The stock’s 50 day moving average is $109.04 and its 200-day moving average is $101.70. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 28.32 and a beta of 0.83. Agilysys has a 52-week low of $73.52 and a 52-week high of $125.73.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 1,000 shares of the business’s stock in a transaction dated 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 directly owns 36,326 shares in the company, valued at approximately $4,129,902.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Agilysys news, Director John Mutch sold 1,000 shares of the company’s 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 transaction, the director now owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the sale, the chief executive officer now directly owns 738,367 shares of the company’s stock, valued at approximately $75,335,585.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,000 shares of company stock worth $3,734,810. Insiders own 19.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. BTIG Research raised their price objective on Agilysys from $118.00 to $124.00 and gave the stock 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 stock a “buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price target on shares of Agilysys in a research note on Tuesday. Oppenheimer upped their price objective on shares of Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Northland Securities reissued an “outperform” rating and set a $145.00 price objective (up previously from $132.00) on shares of Agilysys in a research note on Tuesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $127.80.

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.