Agilysys (NASDAQ:AGYS) Downgraded to “Hold” Rating by StockNews.com

Agilysys (NASDAQ:AGYS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other brokerages also recently commented on AGYS. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a research report on Tuesday. Craig Hallum upped their price target on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Oppenheimer upped their price target on shares of Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. BTIG Research upped their price target on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Northland Securities reaffirmed an “outperform” rating and set a $145.00 price target (up from $132.00) on shares of Agilysys in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.80.

Agilysys Stock Up 2.3 %

Shares of Agilysys stock opened at $102.39 on Thursday. The company has a market cap of $2.86 billion, a P/E ratio of 29.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.34 and a current ratio of 1.13. Agilysys has a one year low of $73.52 and a one year high of $125.73. The firm has a fifty day moving average of $108.50 and a two-hundred day moving average of $101.81.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. Agilysys’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, analysts forecast that Agilysys will post 0.62 earnings per share for the current year.

Insider Activity at Agilysys

In related news, Director John Mutch sold 1,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $113.69, for a total value of $113,690.00. Following the sale, the director now directly owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the sale, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total transaction of $113,690.00. Following the sale, the director now directly owns 36,326 shares in the company, valued at $4,129,902.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,000 shares of company stock valued at $3,734,810. Insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Agilysys by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after purchasing an additional 217,008 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Agilysys by 13.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after purchasing an additional 87,549 shares during the last quarter. Geneva Capital Management LLC boosted its stake in shares of Agilysys by 10.6% during the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock worth $57,805,000 after purchasing an additional 65,672 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Agilysys by 91.6% during the 1st quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock worth $2,797,000 after acquiring an additional 15,870 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Agilysys during the 2nd quarter worth about $1,847,000. 88.00% of the stock is owned by institutional investors and hedge funds.

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.