Agilysys (NASDAQ:AGYS) Rating Lowered to Hold at StockNews.com

Agilysys (NASDAQ:AGYS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other equities research analysts also recently issued reports on the stock. William Blair started coverage on shares of Agilysys in a research note on Monday, June 24th. They issued an “outperform” rating for the company. Needham & Company LLC raised their price objective on Agilysys from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Oppenheimer boosted their target price on Agilysys from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. One 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 company has an average rating of “Moderate Buy” and an average price target of $103.33.

Agilysys Stock Performance

AGYS opened at $104.02 on Thursday. The business’s 50-day simple moving average is $93.44 and its 200 day simple moving average is $85.82. Agilysys has a 52-week low of $63.78 and a 52-week high of $105.00. The firm has a market capitalization of $2.86 billion, a PE ratio of 32.92 and a beta of 0.82.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, May 13th. The software maker reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $62.22 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, research analysts forecast that Agilysys will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Kyle C. Badger sold 249 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $102.03, for a total value of $25,405.47. Following the transaction, the senior vice president now owns 115,834 shares of the company’s stock, valued at $11,818,543.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kyle C. Badger sold 8,948 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $99.15, for a total value of $887,194.20. Following the transaction, the senior vice president now directly owns 166,943 shares in the company, valued at $16,552,398.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kyle C. Badger sold 249 shares of Agilysys stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $102.03, for a total transaction of $25,405.47. Following the completion of the sale, the senior vice president now owns 115,834 shares of the company’s stock, valued at approximately $11,818,543.02. The disclosure for this sale can be found here. Insiders sold 700,935 shares of company stock worth $67,375,071 over the last three months. Insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Agilysys by 162.1% in the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. RiverPark Advisors LLC raised its position in Agilysys by 53.2% during the fourth quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $32,000 after purchasing an additional 133 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Agilysys during the first quarter worth $35,000. Pacer Advisors Inc. boosted its holdings in shares of Agilysys by 247.6% in the 4th quarter. Pacer Advisors Inc. now owns 511 shares of the software maker’s stock valued at $43,000 after purchasing an additional 364 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Agilysys by 99.9% in the 1st quarter. Covestor Ltd now owns 2,277 shares of the software maker’s stock valued at $192,000 after purchasing an additional 1,138 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors.

About Agilysys

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.