StockNews.com Downgrades Agilysys (NASDAQ:AGYS) to Hold

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

Other equities analysts have also recently issued research reports about the stock. BTIG Research raised their price target on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday. Craig Hallum raised 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. Northland Securities reissued 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. Oppenheimer raised their price target 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $125.00 price target on shares of Agilysys in a research report on Tuesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Agilysys has an average rating of “Moderate Buy” and an average price target of $127.80.

Agilysys Stock Performance

Agilysys stock opened at $102.39 on Thursday. The firm has a 50 day simple moving average of $108.50 and a 200-day simple moving average of $101.81. Agilysys has a 1-year low of $73.52 and a 1-year high of $125.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 2.34. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 29.17 and a beta of 0.83.

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, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $67.54 million. During the same quarter 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, analysts expect that Agilysys will post 0.62 EPS for the current year.

Insider Buying and Selling at Agilysys

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 778,367 shares in the company, valued at approximately $85,441,345.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $85,441,345.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 22,888 shares of the company’s stock, valued at approximately $2,490,901.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock worth $3,734,810 over the last ninety days. Corporate insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AGYS. Vanguard Group Inc. boosted its holdings in shares of Agilysys by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after buying an additional 217,008 shares in the last quarter. American Century Companies Inc. raised its position in Agilysys by 1,861.4% in the 2nd quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock valued at $23,026,000 after purchasing an additional 209,836 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Agilysys in the 2nd quarter valued at $21,039,000. Conestoga Capital Advisors LLC purchased a new stake in Agilysys in the 2nd quarter valued at $16,546,000. Finally, Lord Abbett & CO. LLC raised its position in 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. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Company Profile

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.