Agilysys (NASDAQ:AGYS) Price Target Raised to $120.00 at Oppenheimer

Agilysys (NASDAQ:AGYS) had its target price hoisted by equities research analysts at Oppenheimer from $100.00 to $120.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price target would suggest a potential upside of 9.00% from the stock’s current price.

A number of other research analysts have also weighed in on the company. William Blair started coverage on Agilysys in a research report on Monday, June 24th. They set an “outperform” rating for the company. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Finally, Needham & Company LLC lifted their target price on Agilysys from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Agilysys Stock Performance

Shares of AGYS traded up $0.16 on Friday, reaching $110.09. The stock had a trading volume of 30,767 shares, compared to its average volume of 215,757. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 34.84 and a beta of 0.82. The company has a 50-day simple moving average of $98.76 and a 200-day simple moving average of $87.37. Agilysys has a 12-month low of $63.78 and a 12-month high of $110.98.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, May 13th. The software maker reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Agilysys had a return on equity of 15.52% and a net margin of 36.30%. The company had revenue of $62.22 million during the quarter, compared to analyst estimates of $61.95 million. During the same quarter last year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, analysts expect that Agilysys will post 0.69 EPS for the current fiscal year.

Insider Activity at Agilysys

In related news, Director Mak Capital One Llc sold 39,955 shares of Agilysys stock in a transaction on Friday, May 24th. The stock was sold at an average price of $103.34, for a total transaction of $4,128,949.70. Following the transaction, the director now directly owns 2,020,503 shares in the company, valued at $208,798,780.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mak Capital One Llc sold 39,955 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $103.34, for a total value of $4,128,949.70. Following the transaction, the director now directly owns 2,020,503 shares in the company, valued at $208,798,780.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ramesh Srinivasan sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $96.50, for a total value of $4,825,000.00. Following the completion of the transaction, the chief executive officer now owns 988,367 shares in the company, valued at $95,377,415.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,935 shares of company stock worth $67,375,071. Corporate insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Large investors have recently made changes to their positions in the company. Wasatch Advisors LP increased its stake in Agilysys by 439.5% during the first quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after acquiring an additional 820,840 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after buying an additional 217,008 shares during the last quarter. Geneva Capital Management LLC grew its stake in shares of Agilysys by 19.9% during the fourth quarter. Geneva Capital Management LLC now owns 620,361 shares of the software maker’s stock valued at $52,619,000 after buying an additional 102,939 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Agilysys by 13.8% during the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after buying an additional 87,549 shares during the last quarter. Finally, Brown Capital Management LLC bought a new position in shares of Agilysys during the first quarter valued at approximately $6,054,000. 88.00% of the stock is owned by institutional investors.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.