Agilysys (NASDAQ:AGYS) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Agilysys (NASDAQ:AGYS) in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage currently has a $125.00 target price on the software maker’s stock.

A number of other equities analysts have also recently issued reports on the company. BTIG Research upped their price objective on Agilysys from $95.00 to $118.00 and gave the stock a buy rating in a report on Friday, July 19th. StockNews.com downgraded Agilysys from a buy rating to a hold rating in a research report on Thursday, July 4th. Oppenheimer lifted their target price on Agilysys from $100.00 to $120.00 and gave the stock an outperform rating in a report on Friday, July 19th. Finally, William Blair assumed coverage on Agilysys in a report on Monday, June 24th. They issued an outperform rating for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $122.00.

Agilysys Price Performance

Agilysys stock opened at $108.11 on Tuesday. Agilysys has a fifty-two week low of $63.78 and a fifty-two week high of $112.61. The company’s 50 day simple moving average is $100.57 and its 200 day simple moving average is $88.32. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 34.21 and a beta of 0.82.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $63.50 million for the quarter, compared to analyst estimates of $64.52 million. Agilysys had a return on equity of 13.73% and a net margin of 40.32%. Agilysys’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. As a group, analysts predict that Agilysys will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kyle C. Badger sold 249 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $102.03, for a total value of $25,405.47. Following the completion of the sale, the senior vice president now owns 115,834 shares of the company’s stock, valued at $11,818,543.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mak Capital One Llc sold 39,955 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $103.34, for a total value of $4,128,949.70. Following the transaction, the director now owns 2,020,503 shares of the company’s stock, valued at $208,798,780.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kyle C. Badger sold 249 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $102.03, for a total transaction of $25,405.47. Following the completion of the sale, the senior vice president now owns 115,834 shares in the company, valued at approximately $11,818,543.02. The disclosure for this sale can be found here. Insiders have sold a total of 700,935 shares of company stock valued at $67,375,071 in the last 90 days. 23.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agilysys

Hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP boosted its position in Agilysys by 439.5% in the first quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock valued at $84,903,000 after buying an additional 820,840 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Agilysys by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after acquiring an additional 217,008 shares during the period. Geneva Capital Management LLC raised its holdings in Agilysys by 19.9% in the 4th 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 period. Lord Abbett & CO. LLC grew its position in Agilysys by 13.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after acquiring an additional 87,549 shares in the last quarter. Finally, Brown Capital Management LLC acquired a new position in shares of Agilysys during the first quarter worth about $6,054,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Company Profile

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.