Oppenheimer Forecasts Strong Price Appreciation for Agilysys (NASDAQ:AGYS) Stock

Agilysys (NASDAQ:AGYS) had its price objective raised by equities research analysts at Oppenheimer from $120.00 to $135.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price objective points to a potential upside of 7.98% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. 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. Northland Securities reissued an “outperform” rating and issued a $145.00 target price (up from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a research note on Tuesday, October 29th. Finally, BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Agilysys has a consensus rating of “Moderate Buy” and an average target price of $130.80.

Agilysys Trading Up 1.0 %

Shares of AGYS stock opened at $125.02 on Tuesday. The firm has a market capitalization of $3.49 billion, a P/E ratio of 35.65 and a beta of 0.85. Agilysys has a 1 year low of $73.52 and a 1 year high of $128.61. The firm’s fifty day simple moving average is $109.05 and its 200 day simple moving average is $103.66. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The business had revenue of $68.30 million during the quarter, compared to analyst estimates of $67.54 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, sell-side analysts predict that Agilysys will post 0.81 EPS for the current year.

Insider Buying and Selling at Agilysys

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the transaction, the chief executive officer now owns 778,367 shares in the company, valued at $85,441,345.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total value of $435,320.00. Following the transaction, the insider now directly owns 22,888 shares in the company, valued at $2,490,901.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,023 shares of company stock worth $4,548,979. 19.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Agilysys

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in Agilysys by 162.1% in the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after buying an additional 154 shares during the period. CWM LLC raised its position in shares of Agilysys by 390.2% in the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after acquiring an additional 199 shares during the period. Larson Financial Group LLC bought a new position in Agilysys during the 2nd quarter worth approximately $32,000. Advisors Asset Management Inc. grew its holdings in Agilysys by 117.4% during the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after purchasing an additional 182 shares during the period. Finally, NBC Securities Inc. acquired a new position in Agilysys during the third quarter valued at approximately $46,000. 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.