Needham & Company LLC Lowers Agilysys (NASDAQ:AGYS) Price Target to $100.00

Agilysys (NASDAQ:AGYS) had its price objective reduced by investment analysts at Needham & Company LLC from $125.00 to $100.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 26.76% from the stock’s previous close.

Several other brokerages also recently commented on AGYS. Craig Hallum reduced their price objective on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Northland Securities lifted their price target 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, Oppenheimer reduced their price objective on Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. One investment 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 $133.00.

Agilysys Stock Performance

AGYS opened at $78.89 on Wednesday. The business’s fifty day moving average is $101.68 and its 200-day moving average is $111.84. The firm has a market cap of $2.21 billion, a P/E ratio of 98.61 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 1.14. Agilysys has a 52-week low of $74.03 and a 52-week high of $142.64.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $73.15 million. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Sell-side analysts expect that Agilysys will post 0.8 EPS for the current fiscal year.

Insider Transactions at Agilysys

In other news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $132.98, for a total value of $997,350.00. Following the completion of the transaction, the director now directly owns 270,576 shares of the company’s stock, valued at $35,981,196.48. This trade represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 67,500 shares of company stock worth $8,496,000 over the last quarter. Corporate insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Mpwm Advisory Solutions LLC purchased a new stake in shares of Agilysys in the fourth quarter worth about $64,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Agilysys by 35.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,814 shares of the software maker’s stock worth $7,746,000 after acquiring an additional 15,401 shares during the period. Two Sigma Advisers LP lifted its stake in Agilysys by 11.6% in the 4th quarter. Two Sigma Advisers LP now owns 4,800 shares of the software maker’s stock worth $632,000 after purchasing an additional 500 shares in the last quarter. Tidal Investments LLC purchased a new stake in Agilysys in the 4th quarter worth approximately $23,906,000. Finally, Redwood Investments LLC boosted its holdings in Agilysys by 148.1% in the 4th quarter. Redwood Investments LLC now owns 53,529 shares of the software maker’s stock valued at $7,050,000 after purchasing an additional 31,951 shares during the period. Institutional investors own 88.00% of the company’s stock.

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.