Agilysys (NASDAQ:AGYS) Reaches New 1-Year High on Analyst Upgrade

Agilysys, Inc. (NASDAQ:AGYS)’s share price hit a new 52-week high during trading on Tuesday after Oppenheimer raised their price target on the stock from $120.00 to $135.00. Oppenheimer currently has an outperform rating on the stock. Agilysys traded as high as $125.96 and last traded at $124.91, with a volume of 35701 shares changing hands. The stock had previously closed at $122.89.

A number of other research analysts have also recently issued reports on AGYS. StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Craig Hallum raised their target price on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price target on shares of Agilysys in a research note on Tuesday, October 29th. BTIG Research raised their price objective on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Northland Securities reiterated an “outperform” rating and issued a $145.00 target price (up previously from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.80.

Insider Activity

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the sale, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at $85,441,345.59. 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 is available at this hyperlink. In other Agilysys news, insider Chris J. Robertson sold 4,000 shares of the 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of the sale, the chief executive officer now directly owns 778,367 shares in the company, valued at approximately $85,441,345.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,023 shares of company stock valued at $4,548,979 in the last quarter. 19.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Agilysys by 162.1% during the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after acquiring an additional 154 shares during the period. CWM LLC lifted its stake in Agilysys by 390.2% in the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after buying an additional 199 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Agilysys in the 2nd quarter worth about $32,000. Advisors Asset Management Inc. increased its stake in Agilysys by 117.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock worth $37,000 after buying an additional 182 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Agilysys during the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. The business has a fifty day simple moving average of $108.71 and a 200 day simple moving average of $103.38. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 35.01 and a beta of 0.85.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The company had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. During the same quarter last year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that Agilysys, Inc. will post 0.81 EPS for the current fiscal year.

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.