Agilysys (NASDAQ:AGYS) Downgraded by StockNews.com

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

Other equities analysts have also recently issued research reports about the stock. Northland Securities upped their price target on shares of Agilysys from $118.00 to $132.00 and gave the stock an outperform rating in a research note on Monday, September 16th. BTIG Research upped their price target on shares of Agilysys from $95.00 to $118.00 and gave the stock a buy rating in a research note on Friday, July 19th. Oppenheimer upped their target price on shares of Agilysys from $100.00 to $120.00 and gave the company an outperform rating in a research note on Friday, July 19th. William Blair began coverage on shares of Agilysys in a research note on Monday, June 24th. They set an outperform rating on the stock. Finally, 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $124.00.

Agilysys Price Performance

NASDAQ:AGYS opened at $114.90 on Wednesday. The company has a market capitalization of $3.15 billion, a PE ratio of 36.36 and a beta of 0.83. The firm’s 50-day moving average price is $107.14 and its 200-day moving average price is $98.51. Agilysys has a 1-year low of $63.78 and a 1-year high of $115.52.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $63.50 million for 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 was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. Equities analysts anticipate that Agilysys will post 0.62 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the completion of the sale, the chief executive officer now owns 778,367 shares of the company’s stock, valued at $85,441,345.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director John Mutch sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the sale, the director now owns 36,326 shares of the company’s stock, valued at $4,129,902.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the sale, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at $85,441,345.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock valued at $3,734,810 in the last quarter. 23.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Agilysys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new stake in Agilysys in the 4th quarter worth approximately $3,522,000. Wasatch Advisors LP increased its holdings in Agilysys by 439.5% in the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after acquiring an additional 820,840 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Agilysys by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 115,398 shares of the software maker’s stock worth $9,723,000 after acquiring an additional 2,341 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in Agilysys in the 1st quarter worth approximately $584,000. Finally, BNP Paribas Financial Markets increased its holdings in Agilysys by 91.6% in the 1st quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock worth $2,797,000 after acquiring an additional 15,870 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

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.