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 to clients and investors on Thursday.

A number of other research analysts also recently weighed in on the stock. Northland Securities restated an “outperform” rating and set a $145.00 price target (up previously from $132.00) on shares of Agilysys in a report on Tuesday. Craig Hallum boosted their price target on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Oppenheimer increased their price objective on Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Needham & Company LLC restated a “buy” rating and issued a $125.00 target price on shares of Agilysys in a report on Tuesday. Finally, BTIG Research increased their price target on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.80.

Agilysys Trading Down 4.0 %

Shares of NASDAQ:AGYS opened at $98.38 on Thursday. The business has a fifty day simple moving average of $109.04 and a 200 day simple moving average of $101.70. Agilysys has a 1 year low of $73.52 and a 1 year high of $125.73. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 27.18 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. The company had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. During the same period last year, the business earned $0.25 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts forecast that Agilysys will post 0.62 EPS for the current year.

Insider Buying and Selling at Agilysys

In other 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 value of $1,020,300.00. Following the completion of the sale, the chief executive officer now directly owns 738,367 shares of the company’s stock, valued at approximately $75,335,585.01. This 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 this hyperlink. In other Agilysys 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 738,367 shares in the company, valued at $75,335,585.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $3,734,810 in the last 90 days. 19.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC bought a new stake in Agilysys in the first quarter valued at $584,000. BNP Paribas Financial Markets increased its position in shares of Agilysys by 91.6% during the 1st quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock worth $2,797,000 after purchasing an additional 15,870 shares in the last quarter. RiverPark Advisors LLC lifted its holdings in Agilysys by 361.1% during the 1st quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock valued at $149,000 after purchasing an additional 1,383 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in Agilysys by 10.6% during the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock valued at $57,805,000 after purchasing an additional 65,672 shares during the last quarter. Finally, Swiss National Bank boosted its position in Agilysys by 1.1% in the first quarter. Swiss National Bank now owns 45,500 shares of the software maker’s stock valued at $3,834,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

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.