Agilysys (NASDAQ:AGYS) Stock Price Down 5.4% – What’s Next?

Agilysys, Inc. (NASDAQ:AGYS) was down 5.4% during mid-day trading on Tuesday . The company traded as low as $110.86 and last traded at $111.13. Approximately 52,281 shares changed hands during trading, a decline of 75% from the average daily volume of 212,414 shares. The stock had previously closed at $117.44.

Analyst Ratings Changes

A number of analysts recently issued reports on AGYS shares. StockNews.com downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Craig Hallum raised 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. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a report on Monday, September 16th. Oppenheimer raised their price objective on shares of Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, BTIG Research lifted their target price on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a research note 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’s stock. Based on data from MarketBeat, Agilysys presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Agilysys Stock Down 7.3 %

The business’s 50-day moving average price is $109.05 and its 200 day moving average price is $100.61. The company has a market capitalization of $3.03 billion, a P/E ratio of 30.18 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, beating 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 company had revenue of $63.50 million during the quarter, compared to analyst estimates of $64.52 million. During the same period last year, the business earned $0.18 earnings per share. Agilysys’s revenue was up 13.2% compared to the same quarter last year. Analysts anticipate that Agilysys, Inc. will post 0.62 EPS for the current fiscal year.

Insider Activity

In other news, insider Chris J. Robertson sold 4,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 22,888 shares in the company, valued at approximately $2,490,901.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 738,367 shares of the company’s stock, valued at $75,335,585.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris J. Robertson sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total transaction of $435,320.00. Following the completion of the transaction, the insider now directly owns 22,888 shares of the company’s stock, valued at approximately $2,490,901.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,000 shares of company stock worth $3,734,810. 19.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Agilysys

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in Agilysys by 1,838.8% in the 3rd quarter. Blue Trust Inc. now owns 950 shares of the software maker’s stock worth $99,000 after buying an additional 901 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Agilysys in the 3rd quarter valued at $46,000. Exchange Traded Concepts LLC boosted its stake in shares of Agilysys by 76.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock valued at $52,000 after purchasing an additional 205 shares in the last quarter. CWM LLC boosted its stake in shares of Agilysys by 169.2% in the 3rd quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $73,000 after purchasing an additional 423 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Agilysys by 66.7% in the 3rd quarter. GAMMA Investing LLC now owns 415 shares of the software maker’s stock valued at $45,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

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.