Agilysys (NASDAQ:AGYS) Price Target Raised to $145.00

Agilysys (NASDAQ:AGYS) had its price target upped by Needham & Company LLC from $125.00 to $145.00 in a report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other research analysts also recently commented on AGYS. StockNews.com downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Craig Hallum lifted their price target on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. BTIG Research boosted their price target on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Northland Securities reaffirmed an “outperform” rating and issued a $145.00 price objective (up from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. Finally, Oppenheimer boosted their target price on Agilysys from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.80.

Agilysys Price Performance

NASDAQ:AGYS opened at $121.19 on Friday. Agilysys has a 52-week low of $73.52 and a 52-week high of $128.61. The company has a market cap of $3.39 billion, a P/E ratio of 34.53 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. The stock’s 50-day simple moving average is $110.04 and its 200 day simple moving average is $104.34.

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

Insider Transactions at Agilysys

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 778,367 shares of the company’s stock, valued at $85,441,345.59. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO William David Wood III sold 588 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $100.86, for a total transaction of $59,305.68. Following the transaction, the chief financial officer now owns 49,479 shares in the company, valued at approximately $4,990,451.94. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,023 shares of company stock worth $4,548,979. Company insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Agilysys by 1,197.1% during the 3rd quarter. FMR LLC now owns 505,690 shares of the software maker’s stock valued at $55,105,000 after acquiring an additional 466,704 shares during the period. Vanguard Group Inc. raised 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 in the last quarter. American Century Companies Inc. lifted its position in Agilysys by 1,861.4% during the second quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock worth $23,026,000 after purchasing an additional 209,836 shares during the period. William Blair Investment Management LLC acquired a new stake in Agilysys during the second quarter worth about $21,039,000. Finally, Conestoga Capital Advisors LLC bought a new position in Agilysys in the 2nd quarter valued at about $16,546,000. 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.