Agilysys (NASDAQ:AGYS) Rating Lowered to Hold at Zacks Research

Agilysys (NASDAQ:AGYS) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on AGYS. BTIG Research assumed coverage on Agilysys in a report on Tuesday, December 16th. They set a “neutral” rating for the company. Oppenheimer lifted their target price on Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Agilysys in a research report on Monday, December 15th. UBS Group reaffirmed a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Finally, Wall Street Zen lowered Agilysys from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.17.

Agilysys Trading Down 2.4%

AGYS stock opened at $119.45 on Monday. Agilysys has a 1 year low of $63.71 and a 1 year high of $145.25. The company has a fifty day simple moving average of $124.00 and a 200 day simple moving average of $115.27. The firm has a market cap of $3.35 billion, a PE ratio of 138.90 and a beta of 0.42.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Wednesday, June 5th. The software maker reported $0.21 earnings per share for the quarter. The business had revenue of $36.34 million during the quarter. Agilysys had a net margin of 8.12% and a return on equity of 11.22%. As a group, analysts forecast that Agilysys will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Donald A. Colvin sold 6,000 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $123.28, for a total value of $739,680.00. Following the transaction, the director directly owned 24,592 shares of the company’s stock, valued at $3,031,701.76. This represents a 19.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William David Wood III sold 584 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $125.20, for a total transaction of $73,116.80. Following the completion of the sale, the chief financial officer owned 41,052 shares in the company, valued at approximately $5,139,710.40. The trade was a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,576 shares of company stock worth $1,882,370 in the last quarter. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. acquired a new stake in shares of Agilysys in the 3rd quarter worth about $290,000. NewEdge Advisors LLC raised its position in Agilysys by 37.3% in the 3rd quarter. NewEdge Advisors LLC now owns 3,777 shares of the software maker’s stock valued at $398,000 after buying an additional 1,027 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Agilysys by 169.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 60,945 shares of the software maker’s stock valued at $6,321,000 after acquiring an additional 38,288 shares in the last quarter. Woodline Partners LP lifted its position in shares of Agilysys by 8.7% during the third quarter. Woodline Partners LP now owns 3,335 shares of the software maker’s stock valued at $351,000 after purchasing an additional 267 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Agilysys in the 3rd quarter worth approximately $394,000. 88.00% of the stock is owned by institutional investors.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.