Needham & Company LLC Cuts Agilysys (NASDAQ:AGYS) Price Target to $125.00

Agilysys (NASDAQ:AGYS) had its price target cut by stock analysts at Needham & Company LLC from $145.00 to $125.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target points to a potential downside of 0.71% from the company’s previous close.

Other analysts have also issued research reports about the stock. Northland Securities lifted their price target on shares of Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Oppenheimer lifted their target price on Agilysys from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. BTIG Research increased their price target on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.00.

Agilysys Price Performance

NASDAQ:AGYS opened at $125.90 on Wednesday. The stock has a 50 day moving average price of $131.80 and a 200 day moving average price of $116.74. The stock has a market cap of $3.52 billion, a PE ratio of 35.87 and a beta of 0.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. Agilysys has a one year low of $74.03 and a one year high of $142.64.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $69.60 million for the quarter, compared to analyst estimates of $73,149.20 billion. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. Equities research analysts expect that Agilysys will post 0.81 EPS for the current fiscal year.

Insider Activity at Agilysys

In other news, insider Chris J. Robertson sold 264 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $26,627.04. Following the sale, the insider now directly owns 22,624 shares in the company, valued at approximately $2,281,856.64. This trade represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Mutch sold 500 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $137.86, for a total value of $68,930.00. Following the transaction, the director now directly owns 34,654 shares of the company’s stock, valued at $4,777,400.44. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,122 shares of company stock worth $9,002,291 in the last three months. 19.30% of the stock is owned by company insiders.

Institutional Trading of Agilysys

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Agilysys by 1,197.1% in the 3rd quarter. FMR LLC now owns 505,690 shares of the software maker’s stock valued at $55,105,000 after purchasing an additional 466,704 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in Agilysys by 47.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock valued at $115,383,000 after buying an additional 340,424 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in Agilysys by 79.4% in the third quarter. Conestoga Capital Advisors LLC now owns 285,071 shares of the software maker’s stock valued at $31,064,000 after buying an additional 126,193 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Agilysys by 434.3% during the 3rd quarter. Franklin Resources Inc. now owns 98,128 shares of the software maker’s stock worth $11,477,000 after buying an additional 79,764 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Agilysys during the 3rd quarter worth about $8,312,000. Institutional investors and hedge funds 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.