Agilysys (NASDAQ:AGYS) Upgraded to Buy by StockNews.com

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

Other equities research analysts have also issued research reports about 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. Oppenheimer boosted their price objective on shares of Agilysys from $100.00 to $120.00 and gave the company an outperform rating in a research report on Friday, July 19th. Northland Securities boosted their price objective on shares of Agilysys from $118.00 to $132.00 and gave the company an outperform rating in a research report on Monday. William Blair assumed coverage on shares of Agilysys in a research report on Monday, June 24th. They set an outperform rating for the company. Finally, BTIG Research boosted their price objective on shares of Agilysys from $95.00 to $118.00 and gave the company a buy rating in a research report on Friday, July 19th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $124.00.

Agilysys Price Performance

Shares of AGYS stock opened at $103.48 on Tuesday. Agilysys has a 12 month low of $63.78 and a 12 month high of $114.70. The firm has a market capitalization of $2.89 billion, a P/E ratio of 32.75 and a beta of 0.83. The company’s fifty day moving average price is $107.51 and its two-hundred day moving average price is $95.23.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $63.50 million for the quarter, compared to analyst estimates of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. On average, sell-side analysts anticipate that Agilysys will post 0.62 EPS for the current year.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 1,000 shares of the company’s 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 completion of the transaction, the director now owns 36,326 shares in the company, valued at approximately $4,129,902.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Agilysys news, Director John Mutch sold 1,000 shares of the company’s 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 completion of the transaction, the director now owns 36,326 shares in the company, valued at approximately $4,129,902.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mak Capital One Llc sold 61,035 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $96.43, for a total transaction of $5,885,605.05. Following the completion of the transaction, the director now owns 1,298,407 shares of the company’s stock, valued at approximately $125,205,387.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,578 shares of company stock worth $14,107,417. Insiders own 23.60% of the company’s stock.

Institutional Trading of Agilysys

A number of institutional investors have recently made changes to their positions in the stock. Truist Financial Corp lifted its stake in shares of Agilysys by 43.6% in the 2nd quarter. Truist Financial Corp now owns 15,651 shares of the software maker’s stock worth $1,630,000 after acquiring an additional 4,752 shares during the period. Driehaus Capital Management LLC lifted its stake in shares of Agilysys by 49.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 218,292 shares of the software maker’s stock worth $22,733,000 after acquiring an additional 71,809 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Agilysys in the 2nd quarter worth approximately $1,497,000. The Manufacturers Life Insurance Company lifted its stake in shares of Agilysys by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,505 shares of the software maker’s stock worth $1,406,000 after acquiring an additional 1,174 shares during the period. Finally, Deerfield Management Company L.P. Series C lifted its stake in shares of Agilysys by 9.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 8,752 shares of the software maker’s stock worth $911,000 after acquiring an additional 753 shares during the period. 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.