Agilysys (NASDAQ:AGYS) Upgraded to “Strong-Buy” at Zacks Research

Agilysys (NASDAQ:AGYS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price target on shares of Agilysys in a research note on Tuesday, May 19th. Piper Sandler assumed coverage on Agilysys in a research note on Tuesday. They set an “overweight” rating and a $110.00 price target for the company. Oppenheimer increased their price target on Agilysys from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. UBS Group set a $110.00 price target on Agilysys in a research note on Wednesday. Finally, Weiss Ratings downgraded Agilysys from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.00.

Agilysys Stock Performance

AGYS stock opened at $89.42 on Wednesday. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 65.75 and a beta of 0.41. Agilysys has a fifty-two week low of $61.50 and a fifty-two week high of $145.25. The stock has a fifty day moving average of $72.17 and a 200-day moving average of $91.00.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, May 18th. The software maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. The company had revenue of $82.95 million during the quarter, compared to the consensus estimate of $81.56 million. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. Equities analysts predict that Agilysys will post 1.75 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AGYS. Vanguard Group Inc. boosted its position in shares of Agilysys by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock valued at $286,160,000 after acquiring an additional 32,052 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Agilysys by 5.3% during the 2nd quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock valued at $115,204,000 after acquiring an additional 50,536 shares during the last quarter. State Street Corp boosted its position in shares of Agilysys by 0.5% during the 4th quarter. State Street Corp now owns 1,003,062 shares of the software maker’s stock valued at $119,204,000 after acquiring an additional 4,516 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Agilysys during the 4th quarter valued at about $104,878,000. Finally, Wellington Management Group LLP boosted its position in shares of Agilysys by 75.9% during the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock valued at $72,675,000 after acquiring an additional 297,846 shares during the last quarter. Institutional investors own 88.00% of the company’s stock.

Agilysys Company Profile

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.