StockNews.com Upgrades Agilysys (NASDAQ:AGYS) to Buy

StockNews.com upgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a buy rating in a report published on Monday.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer lifted their price objective on shares of Agilysys from $95.00 to $100.00 and gave the stock an outperform rating in a research report on Tuesday, May 14th. Needham & Company LLC lifted their price objective on shares of Agilysys from $100.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $103.33.

Agilysys Stock Up 3.4 %

Shares of AGYS stock opened at $94.13 on Monday. Agilysys has a 52 week low of $63.08 and a 52 week high of $105.00. The stock has a market capitalization of $2.58 billion, a PE ratio of 29.79 and a beta of 0.78. The firm has a 50 day moving average of $89.38 and a two-hundred day moving average of $84.52.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Monday, May 13th. The software maker reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $62.22 million during the quarter, compared to analysts’ expectations of $61.95 million. Agilysys had a net margin of 36.30% and a return on equity of 15.52%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. Analysts expect that Agilysys will post 0.64 EPS for the current fiscal year.

Insider Activity at Agilysys

In related news, Director Jerry C. Jones sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $102.89, for a total value of $1,028,900.00. Following the completion of the sale, the director now directly owns 40,982 shares of the company’s stock, valued at $4,216,637.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Kyle C. Badger sold 8,948 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $99.15, for a total value of $887,194.20. Following the completion of the sale, the senior vice president now directly owns 166,943 shares of the company’s stock, valued at $16,552,398.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jerry C. Jones sold 10,000 shares of Agilysys stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $102.89, for a total transaction of $1,028,900.00. Following the completion of the transaction, the director now owns 40,982 shares in the company, valued at $4,216,637.98. The disclosure for this sale can be found here. Insiders sold a total of 594,357 shares of company stock valued at $57,002,464 over the last ninety days. Insiders own 23.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Agilysys by 12.3% in the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares during the period. Wasatch Advisors LP increased its stake in Agilysys by 439.5% in the first quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock valued at $84,903,000 after purchasing an additional 820,840 shares during the period. Lord Abbett & CO. LLC increased its stake in Agilysys by 13.8% in the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after purchasing an additional 87,549 shares during the period. Geneva Capital Management LLC increased its stake in Agilysys by 10.6% in the first quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock valued at $57,805,000 after purchasing an additional 65,672 shares during the period. Finally, Wellington Management Group LLP increased its stake in Agilysys by 159.4% in the third quarter. Wellington Management Group LLP now owns 601,776 shares of the software maker’s stock valued at $39,814,000 after purchasing an additional 369,780 shares during the period. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Company Profile

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.