Agilysys (NASDAQ:AGYS) Hits New 12-Month High – Here’s Why

Shares of Agilysys, Inc. (NASDAQ:AGYS) reached a new 52-week high on Thursday . The company traded as high as $129.62 and last traded at $129.62, with a volume of 9013 shares trading hands. The stock had previously closed at $125.78.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Oppenheimer increased their price objective on Agilysys from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Needham & Company LLC upped their target price on shares of Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 15th. Northland Securities reiterated an “outperform” rating and set a $145.00 price target (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. BTIG Research upped their price objective on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.80.

Agilysys Trading Up 4.1 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 35.83 and a beta of 0.85. The business has a fifty day simple moving average of $111.40 and a 200-day simple moving average of $105.23.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $68.30 million during the quarter, compared to analyst estimates of $67.54 million. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS. As a group, equities analysts forecast that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at Agilysys

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the sale, the chief executive officer now owns 778,367 shares in the company, valued at $85,441,345.59. This represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William David Wood III sold 588 shares of Agilysys stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $59,305.68. Following the completion of the sale, the chief financial officer now owns 49,479 shares of the company’s stock, valued at approximately $4,990,451.94. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,023 shares of company stock worth $4,548,979 over the last ninety days. 19.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Agilysys

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Agilysys by 162.1% during the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. CWM LLC increased its stake in Agilysys by 390.2% during the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after purchasing an additional 199 shares in the last quarter. Larson Financial Group LLC acquired a new position in Agilysys during the second quarter worth $32,000. Advisors Asset Management Inc. lifted its stake in shares of Agilysys by 117.4% in the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after buying an additional 182 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Agilysys during the third quarter valued at about $46,000. 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.