Oppenheimer Forecasts Strong Price Appreciation for Agilysys (NASDAQ:AGYS) Stock

Agilysys (NASDAQ:AGYS) had its target price raised by stock analysts at Oppenheimer from $135.00 to $150.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price objective points to a potential upside of 12.24% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC lifted their price objective on shares of Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Northland Securities reissued an “outperform” rating and issued a $145.00 price objective (up from $132.00) on shares of Agilysys in a research note on Tuesday, October 29th. Finally, BTIG Research lifted their price objective on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.80.

Agilysys Stock Performance

AGYS opened at $133.64 on Tuesday. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 38.07 and a beta of 0.93. The company has a fifty day moving average of $117.44 and a 200 day moving average of $108.54. Agilysys has a fifty-two week low of $73.52 and a fifty-two week high of $139.99. 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 posted its earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The company had revenue of $68.30 million during the quarter, compared to analysts’ expectations of $67.54 million. During the same period last year, the company posted $0.25 earnings per share. Agilysys’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts forecast that Agilysys will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO William David Wood III sold 1,870 shares of Agilysys stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $134.01, for a total transaction of $250,598.70. Following the completion of the sale, the chief financial officer now owns 47,609 shares in the company, valued at $6,380,082.09. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris J. Robertson sold 729 shares of Agilysys stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $134.01, for a total transaction of $97,693.29. Following the sale, the insider now owns 21,895 shares of the company’s stock, valued at $2,934,148.95. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,122 shares of company stock valued at $2,251,691. Company insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Several large investors have recently modified their holdings of AGYS. GAMMA Investing LLC raised its holdings in shares of Agilysys by 162.1% in the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. CWM LLC raised its holdings in shares of 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 purchasing an additional 199 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new stake in shares of Agilysys in the 2nd quarter valued at about $209,000. SG Americas Securities LLC bought a new stake in shares of Agilysys in the 2nd quarter valued at about $1,847,000. Finally, Louisiana State Employees Retirement System grew its position in shares of Agilysys by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the software maker’s stock worth $1,062,000 after buying an additional 200 shares during the last quarter. 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.