Oppenheimer Cuts Agilysys (NASDAQ:AGYS) Price Target to $135.00

Agilysys (NASDAQ:AGYS) had its price objective reduced by Oppenheimer from $150.00 to $135.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price objective would indicate a potential upside of 7.23% from the stock’s current price.

A number of other brokerages have also weighed in on AGYS. BTIG Research raised their target price on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Northland Securities increased their target price on Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC cut their target price on shares of Agilysys from $145.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.00.

Agilysys Stock Up 3.4 %

Agilysys stock opened at $125.90 on Wednesday. The firm has a fifty day moving average price of $131.80 and a two-hundred day moving average price of $116.74. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 35.87 and a beta of 0.94. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. Agilysys has a fifty-two week low of $74.03 and a fifty-two week high of $142.64.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The company had revenue of $69.60 million during the quarter, compared to analysts’ expectations of $73,149.20 billion. During the same quarter in the previous year, the company earned $0.35 EPS. Agilysys’s revenue was up 14.9% on a year-over-year basis. As a group, analysts forecast that Agilysys will post 0.81 earnings per share for the current year.

Insider Activity at Agilysys

In other Agilysys news, CFO William David Wood III sold 588 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $59,305.68. Following the transaction, the chief financial officer now owns 49,479 shares of the company’s stock, valued at approximately $4,990,451.94. This represents a 1.17 % 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. Also, Director John Mutch sold 500 shares of Agilysys stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.24, for a total transaction of $52,120.00. Following the transaction, the director now owns 35,858 shares in the company, valued at $3,737,837.92. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,122 shares of company stock worth $9,002,291 in the last ninety days. 19.30% of the stock is owned by company insiders.

Institutional Trading of Agilysys

Hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC raised its position in shares of Agilysys by 47.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock valued at $115,383,000 after purchasing an additional 340,424 shares during the last quarter. Fred Alger Management LLC lifted its position in Agilysys by 1.9% during the 2nd quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock worth $97,689,000 after acquiring an additional 17,898 shares during the period. State Street Corp raised its stake in shares of Agilysys by 5.0% in the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after purchasing an additional 43,760 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Agilysys by 0.4% during the third quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker’s stock worth $73,597,000 after purchasing an additional 2,687 shares during the period. Finally, Geode Capital Management LLC boosted its position in Agilysys by 6.2% in the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock valued at $57,614,000 after buying an additional 30,655 shares during 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.