Agilysys (NASDAQ:AGYS) Stock Price Down 4.5% After Analyst Downgrade

Shares of Agilysys, Inc. (NASDAQ:AGYS) dropped 4.5% during mid-day trading on Thursday after Craig Hallum lowered their price target on the stock from $125.00 to $120.00. Craig Hallum currently has a buy rating on the stock. Agilysys traded as low as $97.00 and last traded at $96.14. Approximately 125,868 shares were traded during trading, a decline of 63% from the average daily volume of 342,362 shares. The stock had previously closed at $100.67.

A number of other research firms have also weighed in on AGYS. BTIG Research upped their target price on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Oppenheimer decreased their price objective on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday. Northland Securities increased their price objective on shares of Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, Needham & Company LLC decreased their price objective on shares of Agilysys from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $138.00.

Insider Transactions at Agilysys

In other news, insider Chris J. Robertson sold 264 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total transaction of $26,627.04. Following the completion of the sale, the insider now owns 22,624 shares in the company, valued at $2,281,856.64. This trade represents a 1.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Mutch sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.24, for a total transaction of $52,120.00. Following the sale, the director now owns 35,858 shares of the company’s stock, valued at approximately $3,737,837.92. The trade was a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,122 shares of company stock worth $9,002,291 in the last quarter. Insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AGYS. FMR LLC boosted its holdings in Agilysys by 1,197.1% in the 3rd quarter. FMR LLC now owns 505,690 shares of the software maker’s stock worth $55,105,000 after buying an additional 466,704 shares during the period. Lord Abbett & CO. LLC boosted its holdings in Agilysys by 47.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock worth $115,383,000 after buying an additional 340,424 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Agilysys by 79.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 285,071 shares of the software maker’s stock worth $31,064,000 after buying an additional 126,193 shares during the period. Franklin Resources Inc. boosted its holdings in Agilysys by 434.3% in the 3rd quarter. Franklin Resources Inc. now owns 98,128 shares of the software maker’s stock worth $11,477,000 after buying an additional 79,764 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Agilysys in the 3rd quarter worth approximately $8,312,000. 88.00% of the stock is owned by institutional investors.

Agilysys Stock Performance

The company’s fifty day moving average is $131.35 and its 200 day moving average is $116.79. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2.67 billion, a P/E ratio of 119.59 and a beta of 0.94.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. Agilysys had a net margin of 8.45% and a return on equity of 9.44%. The firm had revenue of $69.60 million during the quarter, compared to the consensus estimate of $73,149.20 billion. During the same period last year, the firm earned $0.35 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that Agilysys, Inc. will post 0.81 earnings per share for the current year.

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.