Agilysys (NASDAQ:AGYS) Stock Rating Lowered by StockNews.com

Agilysys (NASDAQ:AGYS) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other research analysts have also issued reports on the stock. BTIG Research upped their target price on shares of Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a report on Friday, July 19th. Northland Securities upped their target price on shares of Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a report on Monday, September 16th. William Blair initiated coverage on shares of Agilysys in a report on Monday, June 24th. They set an “outperform” rating on the stock. Finally, Craig Hallum increased their price objective on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Agilysys Stock Up 2.6 %

Shares of Agilysys stock traded up $2.78 on Wednesday, hitting $111.60. The company’s stock had a trading volume of 124,777 shares, compared to its average volume of 213,334. Agilysys has a 52-week low of $63.78 and a 52-week high of $114.70. The firm has a fifty day moving average price of $107.08 and a 200-day moving average price of $98.32. The company has a market capitalization of $3.06 billion, a P/E ratio of 35.32 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last released 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 company 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 firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. As a group, analysts expect that Agilysys will post 0.62 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 738,367 shares of the company’s stock, valued at approximately $75,335,585.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 738,367 shares of the company’s stock, valued at approximately $75,335,585.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Mutch sold 1,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,129,902.94. 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 35,000 shares of company stock valued at $3,734,810. 23.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Agilysys

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position 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 acquiring an additional 154 shares in the last quarter. RiverPark Advisors LLC grew its position in 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 acquiring an additional 170 shares in the last quarter. CWM LLC grew its position in Agilysys by 390.2% in the second quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after acquiring an additional 199 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Agilysys by 2.0% in 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 acquiring an additional 200 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Agilysys by 6.2% in the first quarter. Lazard Asset Management LLC now owns 3,490 shares of the software maker’s stock valued at $294,000 after acquiring an additional 204 shares in the last quarter. 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.