Needham & Company LLC Raises Agilysys (NASDAQ:AGYS) Price Target to $145.00

Agilysys (NASDAQ:AGYS) had its price objective boosted by equities research analysts at Needham & Company LLC from $125.00 to $145.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 19.65% from the company’s previous close.

A number of other brokerages have also weighed in on AGYS. Northland Securities reiterated an “outperform” rating and set a $145.00 target price (up from $132.00) on shares of Agilysys in a research note on Tuesday, October 29th. Craig Hallum upped their price objective on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Oppenheimer boosted their price objective on shares of Agilysys from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. BTIG Research increased their target price on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Agilysys presently has an average rating of “Moderate Buy” and an average price target of $134.80.

Agilysys Stock Performance

Agilysys stock opened at $121.19 on Friday. The stock has a market cap of $3.39 billion, a P/E ratio of 34.53 and a beta of 0.85. The firm’s fifty day moving average price is $110.04 and its 200-day moving average price is $104.20. Agilysys has a fifty-two week low of $73.52 and a fifty-two week high of $128.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13.

Agilysys (NASDAQ:AGYS) last announced its earnings results 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 net margin of 37.54% and a return on equity of 10.53%. The firm had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities research analysts expect that Agilysys will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO William David Wood III sold 588 shares of Agilysys stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $100.86, for a total transaction of $59,305.68. Following the sale, the chief financial officer now owns 49,479 shares in the company, valued at approximately $4,990,451.94. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Mutch sold 1,000 shares of the firm’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 transaction of $113,690.00. Following the transaction, the director now owns 36,326 shares in the company, valued at approximately $4,129,902.94. This trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,023 shares of company stock valued at $4,548,979 in the last three months. 19.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agilysys

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Agilysys by 162.1% in the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after buying an additional 154 shares in the last quarter. CWM LLC grew its holdings in Agilysys by 390.2% in the second quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after purchasing an additional 199 shares during the period. Larson Financial Group LLC acquired a new position in Agilysys in the second quarter valued at $32,000. Advisors Asset Management Inc. raised its holdings in Agilysys by 117.4% in the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after buying an additional 182 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of Agilysys during the third quarter worth about $46,000. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

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.