Agilysys (NASDAQ:AGYS) Upgraded to Buy at StockNews.com

Agilysys (NASDAQ:AGYS) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts also recently weighed in on AGYS. Craig Hallum upped their price target on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Agilysys in a research note on Monday, September 16th. Northland Securities raised their target price on shares of Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, September 16th. BTIG Research boosted their price target on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Oppenheimer increased their price objective on shares of Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $124.00.

Agilysys Price Performance

NASDAQ AGYS opened at $110.97 on Wednesday. Agilysys has a 12 month low of $73.52 and a 12 month high of $125.73. The stock has a market capitalization of $3.09 billion, a P/E ratio of 30.65 and a beta of 0.83. The firm’s 50-day moving average is $109.07 and its two-hundred day moving average is $100.93.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $63.50 million for the quarter, compared to analyst estimates of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. As a group, analysts anticipate that Agilysys will post 0.62 EPS for the current year.

Insider Activity at Agilysys

In other news, insider Chris J. Robertson sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total transaction of $435,320.00. Following the completion of the sale, the insider now owns 22,888 shares in the company, valued at approximately $2,490,901.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Chris J. Robertson sold 4,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total value of $435,320.00. Following the transaction, the insider now directly owns 22,888 shares of the company’s stock, valued at $2,490,901.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction on Monday, September 9th. The stock was sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the sale, the chief executive officer now owns 738,367 shares in the company, valued at $75,335,585.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock valued at $3,734,810 over the last three months. 19.30% of the stock is owned by corporate insiders.

Institutional Trading of Agilysys

Several institutional investors and hedge funds have recently made changes to their positions in AGYS. Wasatch Advisors LP increased its position in Agilysys by 439.5% during the first quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after buying an additional 820,840 shares during the period. Principal Financial Group Inc. increased its stake in Agilysys by 2.1% in the first quarter. Principal Financial Group Inc. now owns 115,398 shares of the software maker’s stock valued at $9,723,000 after purchasing an additional 2,341 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Agilysys in the first quarter valued at about $584,000. BNP Paribas Financial Markets grew its holdings in shares of Agilysys by 91.6% during the first quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock worth $2,797,000 after buying an additional 15,870 shares during the last quarter. Finally, RiverPark Advisors LLC increased its position in Agilysys by 361.1% in the 1st quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock valued at $149,000 after acquiring an additional 1,383 shares during the period. 88.00% of the stock is owned by hedge funds and other 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.