Agilysys (NASDAQ:AGYS) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Agilysys (NASDAQ:AGYS) in a research note released on Monday, Benzinga reports. The firm currently has a $125.00 target price on the software maker’s stock.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Agilysys from a buy rating to a hold rating in a report on Thursday, July 4th. Oppenheimer raised their price target on shares of Agilysys from $100.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, July 19th. BTIG Research raised their price objective on shares of Agilysys from $95.00 to $118.00 and gave the stock a buy rating in a report on Friday, July 19th. Craig Hallum upped their target price on shares of Agilysys from $105.00 to $125.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Finally, William Blair started coverage on Agilysys in a research note on Monday, June 24th. They issued an outperform rating for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $124.00.

Agilysys Stock Up 0.7 %

AGYS opened at $102.92 on Monday. The firm’s 50 day moving average is $107.53 and its 200-day moving average is $95.04. Agilysys has a 52-week low of $63.78 and a 52-week high of $114.70. The firm has a market capitalization of $2.87 billion, a P/E ratio of 32.57 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $63.50 million for the quarter, compared to the consensus estimate of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. Equities analysts expect that Agilysys will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Agilysys

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the sale, the chief executive officer now owns 738,367 shares in the company, valued at $75,335,585.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at $75,335,585.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mak Capital One Llc sold 45,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $98.48, for a total value of $4,431,600.00. Following the sale, the director now owns 1,253,407 shares in the company, valued at $123,435,521.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,578 shares of company stock worth $14,107,417. 23.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Agilysys

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Agilysys by 162.1% in the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after acquiring an additional 154 shares during the period. RiverPark Advisors LLC increased its stake in shares of Agilysys by 9.6% in the second quarter. RiverPark Advisors LLC now owns 1,936 shares of the software maker’s stock valued at $202,000 after purchasing an additional 170 shares during the period. CWM LLC raised its holdings in shares of Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after buying an additional 199 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Agilysys by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the software maker’s stock valued at $1,062,000 after buying an additional 200 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Agilysys by 6.2% during the first quarter. Lazard Asset Management LLC now owns 3,490 shares of the software maker’s stock worth $294,000 after buying an additional 204 shares during the period. 88.00% of the stock is currently owned by 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.