Agilysys (NASDAQ:AGYS) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Agilysys (NASDAQ:AGYS) from a buy rating to a hold rating in a research report report published on Thursday morning.

AGYS has been the subject of a number of other reports. Craig Hallum lifted their price target on shares of Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Oppenheimer boosted their target price on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Northland Securities restated an “outperform” rating and issued a $145.00 price target (up previously from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. BTIG Research boosted their price objective on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Agilysys in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.80.

Agilysys Stock Up 2.3 %

Agilysys stock opened at $102.39 on Thursday. The stock’s 50 day moving average price is $108.50 and its 200 day moving average price is $102.08. The company has a market cap of $2.86 billion, a PE ratio of 29.17 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 2.34. Agilysys has a 1-year low of $73.52 and a 1-year high of $125.73.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The business had revenue of $68.30 million for the quarter, compared to analysts’ expectations of $67.54 million. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, sell-side analysts predict that Agilysys will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of the transaction, the chief executive officer now owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Agilysys news, Director John Mutch sold 1,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $113.69, for a total transaction of $113,690.00. Following the transaction, the director now owns 36,326 shares of the company’s stock, valued at $4,129,902.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total value 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,000 shares of company stock worth $3,734,810. 19.30% of the stock is owned by corporate insiders.

Institutional Trading of Agilysys

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake 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 acquiring an additional 217,008 shares during the last quarter. Fred Alger Management LLC increased its position in Agilysys by 1.9% during the second quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock worth $97,689,000 after purchasing an additional 17,898 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Agilysys by 13.8% in 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 boosted its holdings in shares of Agilysys by 10.6% in 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, Price T Rowe Associates Inc. MD grew its stake in shares of Agilysys by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock valued at $33,970,000 after buying an additional 20,703 shares during the period. 88.00% of the stock is owned by institutional investors and hedge funds.

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.