Agilysys (NASDAQ:AGYS) Price Target Raised to $145.00

Agilysys (NASDAQ:AGYS) had its target price hoisted by Needham & Company LLC from $125.00 to $145.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other research analysts also recently weighed in on the stock. Oppenheimer increased their price target on shares of Agilysys from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northland Securities reiterated an “outperform” rating and issued a $145.00 price target (up from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. Craig Hallum increased their price target on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, BTIG Research increased their price objective on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. One equities research 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 stock currently has an average rating of “Moderate Buy” and an average price target of $134.80.

Agilysys Trading Up 0.8 %

NASDAQ:AGYS opened at $122.19 on Friday. The company’s 50 day moving average price is $110.04 and its 200-day moving average price is $104.50. Agilysys has a 52 week low of $73.52 and a 52 week high of $128.61. 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 stock has a market cap of $3.42 billion, a price-to-earnings ratio of 34.53 and a beta of 0.85.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.54 million. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts forecast that Agilysys will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Melvin L. Keating sold 3,280 shares of Agilysys stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $122.84, for a total value of $402,915.20. Following the completion of the transaction, the director now owns 34,407 shares in the company, valued at approximately $4,226,555.88. The trade was a 8.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys 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 transaction, 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 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,023 shares of company stock valued at $4,548,979 in the last quarter. 19.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agilysys

A number of large investors have recently made changes to their positions in AGYS. GAMMA Investing LLC lifted its stake in Agilysys by 162.1% in the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after purchasing an additional 154 shares during the last quarter. CWM LLC boosted its holdings in Agilysys by 390.2% during 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 purchased a new position in Agilysys during the 2nd quarter valued at $32,000. Advisors Asset Management Inc. boosted its holdings in Agilysys by 117.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after acquiring an additional 182 shares during the period. Finally, NBC Securities Inc. purchased a new position in Agilysys during the 3rd quarter valued at $46,000. 88.00% of the stock is 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.