Agilysys (NASDAQ:AGYS) Reaches New 52-Week High on Analyst Upgrade

Shares of Agilysys, Inc. (NASDAQ:AGYS) reached a new 52-week high during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $120.00 to $135.00. Oppenheimer currently has an outperform rating on the stock. Agilysys traded as high as $125.96 and last traded at $124.91, with a volume of 35701 shares changing hands. The stock had previously closed at $122.89.

A number of other brokerages also recently issued reports on AGYS. StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Northland Securities reaffirmed an “outperform” rating and set a $145.00 target price (up from $132.00) on shares of Agilysys in a research note on Tuesday, October 29th. Craig Hallum increased their price target on shares of Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. BTIG Research raised their price target on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price objective on shares of Agilysys in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Agilysys has a consensus rating of “Moderate Buy” and a consensus target price of $130.80.

Insider Activity

In related news, CFO William David Wood III sold 588 shares of Agilysys stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $59,305.68. Following the completion of the sale, the chief financial officer now owns 49,479 shares in the company, valued at approximately $4,990,451.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Agilysys news, CFO William David Wood III sold 588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $59,305.68. Following the completion of the transaction, the chief financial officer now owns 49,479 shares of the company’s stock, valued at $4,990,451.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the company’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 directly owns 778,367 shares in the company, valued at $85,441,345.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,023 shares of company stock valued at $4,548,979. Company insiders own 19.30% of the company’s stock.

Institutional Trading of Agilysys

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in Agilysys by 11.2% during the 3rd quarter. US Bancorp DE now owns 1,216 shares of the software maker’s stock worth $133,000 after acquiring an additional 122 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 buying an additional 154 shares during the last quarter. RiverPark Advisors LLC increased its holdings in Agilysys by 9.6% in the second quarter. RiverPark Advisors LLC now owns 1,936 shares of the software maker’s stock valued at $202,000 after buying an additional 170 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Agilysys by 117.4% in the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after buying an additional 182 shares in the last quarter. Finally, CWM LLC lifted its holdings in Agilysys by 390.2% during the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after buying an additional 199 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Price Performance

The company has a market capitalization of $3.46 billion, a PE ratio of 35.01 and a beta of 0.85. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $108.71 and a 200-day simple moving average of $103.38.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The firm had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. During the same period in the prior year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts anticipate that Agilysys, Inc. will post 0.81 earnings per share for the current year.

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.