Agilysys’ (AGYS) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Agilysys (NASDAQ:AGYS) in a research note published on Monday, Benzinga reports. They currently have a $125.00 price target on the software maker’s stock.

Several other brokerages have also commented on AGYS. Oppenheimer upped their target price on Agilysys from $100.00 to $120.00 and gave the company an outperform rating in a research report on Friday, July 19th. William Blair started coverage on Agilysys in a report on Monday, June 24th. They set an outperform rating on the stock. BTIG Research lifted their price objective on shares of Agilysys from $95.00 to $118.00 and gave the company a buy rating in a research note on Friday, July 19th. StockNews.com lowered shares of Agilysys from a buy rating to a hold rating in a research note on Thursday, July 4th. Finally, Craig Hallum lifted 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. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Agilysys has an average rating of Buy and an average price target of $124.00.

Agilysys Stock Performance

Agilysys stock opened at $101.31 on Monday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 32.06 and a beta of 0.83. Agilysys has a 52-week low of $63.78 and a 52-week high of $114.70. The firm has a 50 day moving average price of $107.48 and a two-hundred day moving average price of $95.27.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $63.50 million during the quarter, compared to the consensus estimate of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. Agilysys’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, equities research analysts predict that Agilysys will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling at Agilysys

In other news, insider Chris J. Robertson sold 4,000 shares of Agilysys stock in a transaction dated 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 directly owns 22,888 shares in the company, valued at $2,490,901.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Agilysys news, Director John Mutch sold 1,000 shares of Agilysys stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the transaction, the director now directly owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was 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 of the company’s stock, valued at approximately $2,490,901.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,578 shares of company stock worth $14,107,417. 23.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after buying an additional 154 shares in the last quarter. CWM LLC lifted its holdings in Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after acquiring an additional 199 shares during the period. Larson Financial Group LLC purchased a new position in Agilysys in the second quarter worth $32,000. YHB Investment Advisors Inc. bought a new position in Agilysys in the 1st quarter valued at $35,000. Finally, RiverPark Advisors LLC increased its position in shares of Agilysys by 361.1% during the 1st quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock valued at $149,000 after purchasing an additional 1,383 shares during the last quarter. 88.00% of the stock is currently 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.