Agilysys (NASDAQ:AGYS) Downgraded by StockNews.com

StockNews.com lowered shares of Agilysys (NASDAQ:AGYS) from a buy rating to a hold rating in a report released on Tuesday.

A number of other research analysts have also recently commented on AGYS. Needham & Company LLC upped their target price on Agilysys from $100.00 to $125.00 and gave the company a buy rating in a research note on Thursday, May 23rd. William Blair started coverage on Agilysys in a research note on Monday. They set an outperform rating on the stock. Finally, Oppenheimer upped their target price on Agilysys from $95.00 to $100.00 and gave the company an outperform rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $103.33.

Agilysys Price Performance

Shares of NASDAQ AGYS opened at $101.89 on Tuesday. The business’s 50 day moving average is $91.79 and its two-hundred day moving average is $85.18. Agilysys has a 1-year low of $63.08 and a 1-year high of $105.00. The stock has a market capitalization of $2.80 billion, a P/E ratio of 32.24 and a beta of 0.78.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, May 13th. The software maker reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $62.22 million for the quarter, compared to analysts’ expectations of $61.95 million. Agilysys had a return on equity of 15.52% and a net margin of 36.30%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, equities research analysts anticipate that Agilysys will post 0.69 earnings per share for the current fiscal year.

Insider Activity at Agilysys

In other Agilysys news, Director Jerry C. Jones sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $102.89, for a total transaction of $1,028,900.00. Following the completion of the sale, the director now owns 40,982 shares in the company, valued at $4,216,637.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Agilysys news, CEO Ramesh Srinivasan sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $96.50, for a total transaction of $4,825,000.00. Following the completion of the sale, the chief executive officer now owns 988,367 shares in the company, valued at $95,377,415.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jerry C. Jones sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $102.89, for a total value of $1,028,900.00. Following the sale, the director now owns 40,982 shares of the company’s stock, valued at approximately $4,216,637.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 700,392 shares of company stock worth $67,319,669. Company insiders own 23.60% of the company’s stock.

Institutional Trading of Agilysys

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Agilysys by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Agilysys by 439.5% during the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock valued at $84,903,000 after purchasing an additional 820,840 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Agilysys by 13.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after purchasing an additional 87,549 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Agilysys by 10.6% during the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock valued at $57,805,000 after purchasing an additional 65,672 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Agilysys by 159.4% during the 3rd quarter. Wellington Management Group LLP now owns 601,776 shares of the software maker’s stock valued at $39,814,000 after purchasing an additional 369,780 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Company Profile

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.