Needham & Company LLC Reiterates Buy Rating for Agilysys (NASDAQ:AGYS)

Agilysys (NASDAQ:AGYS)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Monday, Benzinga reports. They presently have a $125.00 price objective on the software maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 20.80% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. William Blair started coverage on shares of Agilysys in a report on Monday, June 24th. They issued an “outperform” rating on the stock. Craig Hallum boosted their price objective on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Oppenheimer boosted their price target on shares of Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, BTIG Research increased their price objective on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $124.00.

Agilysys Stock Up 0.5 %

NASDAQ:AGYS opened at $103.48 on Monday. The company has a market cap of $2.89 billion, a PE ratio of 32.75 and a beta of 0.83. The business’s 50 day moving average is $107.51 and its two-hundred day moving average is $95.23. Agilysys has a 52 week low of $63.78 and a 52 week high of $114.70.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $63.50 million for the quarter, compared to analysts’ expectations of $64.52 million. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. As a group, sell-side analysts expect that Agilysys will post 0.62 EPS for the current fiscal year.

Insider Activity

In other Agilysys news, Director Mak Capital One Llc sold 61,035 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $96.43, for a total transaction of $5,885,605.05. Following the sale, the director now directly owns 1,298,407 shares in the company, valued at approximately $125,205,387.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mak Capital One Llc sold 61,035 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $96.43, for a total value of $5,885,605.05. Following the completion of the sale, the director now owns 1,298,407 shares in the company, valued at $125,205,387.01. The sale 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 dated 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 transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at $75,335,585.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,578 shares of company stock valued at $14,107,417. Company insiders own 23.60% of the company’s stock.

Institutional Trading of Agilysys

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Agilysys by 162.1% in the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after buying an additional 154 shares during the last quarter. CWM LLC grew 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 worth $26,000 after acquiring an additional 199 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Agilysys during the second quarter worth $32,000. YHB Investment Advisors Inc. purchased a new stake in shares of Agilysys during the first quarter valued at $35,000. Finally, RiverPark Advisors LLC boosted its position in shares of Agilysys by 361.1% in 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 period. 88.00% of the stock is currently owned by institutional investors.

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.