Agilysys (NASDAQ:AGYS) Sets New 52-Week High – Still a Buy?

Agilysys, Inc. (NASDAQ:AGYS) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $114.82 and last traded at $114.79, with a volume of 20766 shares trading hands. The stock had previously closed at $112.51.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AGYS shares. Craig Hallum upped their price target on shares of Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Northland Securities raised their price target on shares of Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Needham & Company LLC restated a “buy” rating and issued a $125.00 price target on shares of Agilysys in a report on Monday, September 16th. BTIG Research raised their price objective on shares of Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Oppenheimer raised their price objective on shares of Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.00.

Agilysys Trading Up 2.1 %

The stock has a market capitalization of $3.20 billion, a PE ratio of 31.08 and a beta of 0.83. The firm has a 50-day moving average price of $107.14 and a 200-day moving average price of $98.51.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $63.50 million during 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%. Agilysys’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Sell-side analysts expect that Agilysys, Inc. will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction on Monday, September 9th. The stock was sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at approximately $75,335,585.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 owns 22,888 shares of the company’s stock, valued at approximately $2,490,901.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction on Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the sale, the chief executive officer now directly owns 738,367 shares of the company’s stock, valued at $75,335,585.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock worth $3,734,810 over the last quarter. 19.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Agilysys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Agilysys by 162.1% during the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after buying an additional 154 shares in the last quarter. CWM LLC grew its position in Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after buying an additional 199 shares in the last quarter. Larson Financial Group LLC purchased a new position in Agilysys during the second quarter worth about $32,000. Exchange Traded Concepts LLC grew its position in Agilysys by 76.2% during the third quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock worth $52,000 after buying an additional 205 shares in the last quarter. Finally, RiverPark Advisors LLC grew its position in Agilysys by 361.1% during the first quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock worth $149,000 after buying an additional 1,383 shares in the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Company Profile

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.