StockNews.com Downgrades Agilysys (NASDAQ:AGYS) to Hold

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

A number of other research firms also recently weighed in on AGYS. William Blair began coverage on Agilysys in a report on Monday, June 24th. They set an “outperform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price target on shares of Agilysys in a research note on Monday, September 16th. Craig Hallum boosted their price target on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. 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 report on Friday, July 19th. Finally, BTIG Research boosted their target price on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Agilysys presently has an average rating of “Moderate Buy” and an average price target of $124.00.

Agilysys Trading Up 0.8 %

Shares of Agilysys stock opened at $112.51 on Wednesday. Agilysys has a 1 year low of $63.78 and a 1 year high of $114.70. The company has a market cap of $3.09 billion, a P/E ratio of 35.60 and a beta of 0.83. The stock has a 50-day moving average price of $107.14 and a 200 day moving average price of $98.51.

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

Insider Buying and Selling

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the transaction, the chief executive officer now owns 738,367 shares in the company, valued at $75,335,585.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director John Mutch sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the transaction, the director now owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,020,300.00. Following the sale, the chief executive officer now owns 738,367 shares of the company’s stock, valued at approximately $75,335,585.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,000 shares of company stock worth $3,734,810. 23.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after acquiring an additional 217,008 shares during the period. Wasatch Advisors LP increased its holdings in shares of Agilysys by 439.5% during the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after purchasing an additional 820,840 shares during the period. Fred Alger Management LLC raised its position in shares of Agilysys by 1.9% during the second quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock valued at $97,689,000 after buying an additional 17,898 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Agilysys by 13.8% in the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after buying an additional 87,549 shares during the period. Finally, Geneva Capital Management LLC lifted its stake in shares of Agilysys by 10.6% in the first quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock valued at $57,805,000 after buying an additional 65,672 shares during the period. 88.00% of the stock is currently 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.