Agilysys (NASDAQ:AGYS) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other analysts also recently issued reports about the stock. Northland Securities raised their price target on shares of Agilysys from $118.00 to $132.00 and gave the stock an outperform rating in a research report on Monday, September 16th. Oppenheimer boosted their price target on Agilysys from $100.00 to $120.00 and gave the company an outperform rating in a research note on Friday, July 19th. Craig Hallum upped their price target on Agilysys from $105.00 to $125.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Needham & Company LLC reissued a buy rating and set a $125.00 price objective on shares of Agilysys in a report on Monday, September 16th. Finally, William Blair initiated coverage on Agilysys in a research note on Monday, June 24th. They issued an outperform rating for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $124.00.

Agilysys Trading Down 1.7 %

Agilysys stock opened at $107.97 on Friday. The company has a market capitalization of $3.01 billion, a P/E ratio of 34.17 and a beta of 0.83. Agilysys has a 1-year low of $63.78 and a 1-year high of $114.70. The firm’s fifty day simple moving average is $107.42 and its 200-day simple moving average is $96.76.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $63.50 million during the quarter, compared to analysts’ expectations of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. Agilysys’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities research analysts predict that Agilysys will post 0.62 earnings per share for the current year.

Insider Buying and Selling at Agilysys

In other Agilysys news, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the sale, the director now directly owns 36,326 shares in the company, valued at approximately $4,129,902.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total value of $113,690.00. Following the completion of the transaction, the director now owns 36,326 shares of the company’s stock, valued at $4,129,902.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the transaction, the chief executive officer now owns 738,367 shares of the company’s stock, valued at approximately $75,335,585.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,000 shares of company stock valued at $3,734,810. Company insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after acquiring an additional 154 shares during the period. CWM LLC increased its position in shares of Agilysys by 390.2% in the second quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after purchasing an additional 199 shares during the period. Larson Financial Group LLC acquired a new position in Agilysys in the second quarter valued at about $32,000. YHB Investment Advisors Inc. bought a new stake in Agilysys during the first quarter worth about $35,000. Finally, RiverPark Advisors LLC grew its stake in Agilysys by 361.1% during the first quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock worth $149,000 after buying an additional 1,383 shares in the last quarter. 88.00% of the stock is owned by institutional investors.

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.