Needham & Company LLC Issues Positive Forecast for Agilysys (NASDAQ:AGYS) Stock Price

Agilysys (NASDAQ:AGYS) had its target price boosted by Needham & Company LLC from $100.00 to $105.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target points to a potential upside of 4.88% from the company’s previous close.

A number of other equities analysts have also recently commented on AGYS. Craig Hallum cut their target price on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. UBS Group set a $100.00 price objective on Agilysys in a report on Wednesday, March 5th. Finally, Oppenheimer decreased their target price on Agilysys from $135.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.83.

Agilysys Trading Up 20.6%

NASDAQ:AGYS traded up $17.10 on Tuesday, reaching $100.12. 647,843 shares of the company’s stock were exchanged, compared to its average volume of 263,139. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. Agilysys has a 52-week low of $63.71 and a 52-week high of $142.64. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 125.12 and a beta of 0.58. The business has a fifty day moving average of $74.28 and a 200-day moving average of $98.95.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, May 19th. The software maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The firm had revenue of $74.27 million for the quarter, compared to analyst estimates of $71.43 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, analysts expect that Agilysys will post 0.8 earnings per share for the current year.

Insider Activity

In related news, Director John Mutch sold 750 shares of Agilysys stock in a transaction on Monday, March 17th. The shares were sold at an average price of $75.33, for a total value of $56,497.50. Following the completion of the sale, the director now owns 31,904 shares in the company, valued at approximately $2,403,328.32. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.30% of the company’s stock.

Institutional Trading of Agilysys

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its stake in Agilysys by 105.2% during the 3rd quarter. Barclays PLC now owns 50,572 shares of the software maker’s stock valued at $5,512,000 after purchasing an additional 25,926 shares during the period. Harbor Investment Advisory LLC lifted its stake in Agilysys by 109.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock valued at $49,000 after purchasing an additional 193 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Agilysys by 320.5% during the 4th quarter. SG Americas Securities LLC now owns 4,192 shares of the software maker’s stock worth $552,000 after acquiring an additional 3,195 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Agilysys by 21.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 3,065 shares of the software maker’s stock worth $404,000 after buying an additional 535 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Agilysys by 18.9% during the fourth quarter. Blue Trust Inc. now owns 1,130 shares of the software maker’s stock valued at $149,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.

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.