Agilysys (NASDAQ:AGYS) Shares Gap Up Following Analyst Upgrade

Shares of Agilysys, Inc. (NASDAQ:AGYS) gapped up prior to trading on Tuesday after BTIG Research raised their price target on the stock from $118.00 to $124.00. The stock had previously closed at $111.49, but opened at $119.83. BTIG Research currently has a buy rating on the stock. Agilysys shares last traded at $106.11, with a volume of 30,417 shares changing hands.

AGYS has been the topic of a number of other reports. Northland Securities lifted their price objective on shares of Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price target on shares of Agilysys in a research note on Monday, September 16th. Oppenheimer upped their price objective on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Craig Hallum lifted their target price on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com raised Agilysys from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $127.80.

Insider Buying and Selling

In other Agilysys news, Director John Mutch sold 1,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total value of $113,690.00. Following the completion of the transaction, the director now directly owns 36,326 shares in the company, valued at approximately $4,129,902.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John Mutch sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $113.69, for a total value of $113,690.00. Following the completion of the transaction, the director now owns 36,326 shares of the company’s stock, valued at $4,129,902.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Chris J. Robertson sold 4,000 shares of Agilysys 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 sale, the insider now owns 22,888 shares in the company, valued at approximately $2,490,901.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $3,734,810 in the last 90 days. Insiders own 19.30% of the company’s stock.

Institutional Trading of Agilysys

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Agilysys by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after buying an additional 217,008 shares during the period. American Century Companies Inc. lifted its stake in shares of Agilysys by 1,861.4% in the second quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock worth $23,026,000 after acquiring an additional 209,836 shares during the period. William Blair Investment Management LLC bought a new stake in Agilysys in the second quarter valued at approximately $21,039,000. Conestoga Capital Advisors LLC acquired a new stake in Agilysys during the 2nd quarter valued at approximately $16,546,000. Finally, Lord Abbett & CO. LLC raised its holdings in Agilysys by 13.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after purchasing an additional 87,549 shares during the last quarter. Institutional investors own 88.00% of the company’s stock.

Agilysys Trading Down 8.1 %

The stock’s 50-day moving average price is $109.17 and its 200-day moving average price is $101.56. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 29.31 and a beta of 0.83.

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.