Agilysys (NASDAQ:AGYS) Price Target Cut to $100.00 by Analysts at Needham & Company LLC

Agilysys (NASDAQ:AGYS) had its price target trimmed by Needham & Company LLC from $125.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. Northland Securities boosted their target price on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Oppenheimer dropped their target price on Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Finally, Craig Hallum dropped their target price on Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Agilysys Price Performance

Shares of AGYS stock opened at $81.61 on Wednesday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 102.01 and a beta of 0.93. The business’s fifty day moving average is $102.86 and its 200 day moving average is $112.08. Agilysys has a twelve month low of $74.03 and a twelve month high of $142.64. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $73.15 million. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. Research analysts expect that Agilysys will post 0.8 EPS for the current fiscal year.

Insider Activity

In other news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $130.55, for a total transaction of $979,125.00. Following the transaction, the director now directly owns 330,576 shares of the company’s stock, valued at $43,156,696.80. This represents a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 67,500 shares of company stock valued at $8,496,000 over the last ninety days. 19.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Synergy Asset Management LLC lifted its holdings in Agilysys by 19.1% in the fourth quarter. Synergy Asset Management LLC now owns 86,080 shares of the software maker’s stock valued at $11,157,000 after acquiring an additional 13,785 shares during the period. Eagle Asset Management Inc. increased its position in Agilysys by 59.1% in the third quarter. Eagle Asset Management Inc. now owns 142,738 shares of the software maker’s stock worth $16,959,000 after buying an additional 53,026 shares in the last quarter. State Street Corp increased its position in Agilysys by 5.0% in the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after buying an additional 43,760 shares in the last quarter. Geode Capital Management LLC increased its position in Agilysys by 6.2% in the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock worth $57,614,000 after buying an additional 30,655 shares in the last quarter. Finally, Shaker Investments LLC OH purchased a new stake in Agilysys in the fourth quarter worth about $1,084,000. Institutional investors own 88.00% of the company’s stock.

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.