Agilysys, Inc. (NASDAQ:AGYS) Receives Consensus Recommendation of “Buy” from Brokerages

Agilysys, Inc. (NASDAQ:AGYS) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $134.80.

A number of analysts have recently issued reports on AGYS shares. Northland Securities reaffirmed an “outperform” rating and set a $145.00 price target (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. Needham & Company LLC raised their target price on shares of Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Oppenheimer raised their price target on Agilysys from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, StockNews.com cut Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

Agilysys Trading Up 0.2 %

NASDAQ:AGYS opened at $137.80 on Thursday. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 39.26 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average price is $113.41 and its 200-day moving average price is $106.57. Agilysys has a 52 week low of $73.52 and a 52 week high of $139.99.

Agilysys (NASDAQ:AGYS) last posted its 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 business 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 company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. On average, equities research analysts forecast that Agilysys will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at Agilysys

In related 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 owns 36,326 shares in the company, valued at approximately $4,129,902.94. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $1,097,700.00. Following the completion of the transaction, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at $85,441,345.59. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,023 shares of company stock worth $4,548,979 in the last three months. Corporate insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Several large investors have recently made changes to their positions in AGYS. Vanguard Group Inc. lifted its holdings in Agilysys by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after purchasing an additional 217,008 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Agilysys by 1.9% during the second quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock valued at $97,689,000 after buying an additional 17,898 shares during the last quarter. State Street Corp lifted its holdings in shares of Agilysys by 5.0% in the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after buying an additional 43,760 shares in the last quarter. Geneva Capital Management LLC boosted its position in shares of Agilysys by 0.4% during the third quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker’s stock worth $73,597,000 after acquiring an additional 2,687 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Agilysys by 6.2% during the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock valued at $57,614,000 after acquiring an additional 30,655 shares in the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

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.