Agilysys (NASDAQ:AGYS) Sets New 12-Month High After Analyst Upgrade

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 traded. The stock had previously closed at $122.89.

Several other research firms have also weighed in on AGYS. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price on shares of Agilysys in a research report on Tuesday, October 29th. Craig Hallum increased their price target on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Northland Securities reiterated an “outperform” rating and issued a $145.00 price objective (up previously from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. Finally, 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 report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $130.80.

Insider Activity at Agilysys

In other Agilysys 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Melvin L. Keating sold 1,920 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $117.55, for a total transaction of $225,696.00. Following the completion of the transaction, the director now directly owns 39,587 shares of the company’s stock, valued at $4,653,451.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 778,367 shares in the company, 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. Over the last 90 days, insiders sold 38,743 shares of company stock worth $4,146,064. 19.30% of the stock is currently owned by company insiders.

Institutional Trading of Agilysys

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Agilysys by 162.1% in the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. CWM LLC grew its position in shares of Agilysys by 390.2% in the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after acquiring an additional 199 shares during the period. Larson Financial Group LLC bought a new stake in shares of Agilysys in the 2nd quarter valued at about $32,000. Advisors Asset Management Inc. lifted its stake in Agilysys by 117.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in Agilysys during the third quarter worth about $46,000. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. The business has a 50-day simple moving average of $108.71 and a two-hundred day simple moving average of $103.38. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 35.01 and a beta of 0.85.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping 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 business had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. Equities analysts forecast that Agilysys, Inc. will post 0.81 EPS for the current fiscal year.

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.