Agilysys (NASDAQ:AGYS) Sees Large Volume Increase – Here’s Why

Shares of Agilysys, Inc. (NASDAQ:AGYS) saw unusually-high trading volume on Friday . Approximately 291,289 shares were traded during mid-day trading, an increase of 75% from the previous session’s volume of 166,391 shares.The stock last traded at $129.25 and had previously closed at $132.97.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northland Securities upped their price target on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. BTIG Research lifted their price objective on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC increased their target price on shares of Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Oppenheimer boosted their price target on shares of Agilysys from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.00.

Agilysys Stock Performance

The firm has a market cap of $3.45 billion, a P/E ratio of 35.20 and a beta of 0.94. The business’s fifty day simple moving average is $131.76 and its 200-day simple moving average is $116.31. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19.

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

Insider Buying and Selling

In other Agilysys news, insider Chris J. Robertson sold 729 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $134.01, for a total value of $97,693.29. Following the sale, the insider now directly owns 21,895 shares of the company’s stock, valued at approximately $2,934,148.95. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $132.98, for a total transaction of $997,350.00. Following the sale, the director now directly owns 270,576 shares in the company, valued at $35,981,196.48. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,122 shares of company stock valued at $7,099,841 over the last three months. Corporate insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Agilysys by 1,197.1% in the third quarter. FMR LLC now owns 505,690 shares of the software maker’s stock worth $55,105,000 after acquiring an additional 466,704 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Agilysys by 47.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock valued at $115,383,000 after buying an additional 340,424 shares during the period. American Century Companies Inc. boosted its stake in shares of Agilysys by 1,861.4% in the 2nd quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock worth $23,026,000 after buying an additional 209,836 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Agilysys by 79.4% during the third quarter. Conestoga Capital Advisors LLC now owns 285,071 shares of the software maker’s stock valued at $31,064,000 after acquiring an additional 126,193 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Agilysys by 434.3% in the third quarter. Franklin Resources Inc. now owns 98,128 shares of the software maker’s stock valued at $11,477,000 after acquiring an additional 79,764 shares during the period. 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.