Agilysys (NASDAQ:AGYS) Hits New 12-Month High – Here’s What Happened

Shares of Agilysys, Inc. (NASDAQ:AGYS) hit a new 52-week high on Thursday . The stock traded as high as $124.99 and last traded at $124.43, with a volume of 7000 shares traded. The stock had previously closed at $124.06.

Analyst Ratings Changes

AGYS has been the subject of several recent analyst reports. BTIG Research upped their price objective on Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Craig Hallum upped their target price on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 target price on shares of Agilysys in a report on Monday, September 16th. Northland Securities upped their target price on Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, Oppenheimer upped 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Agilysys Stock Up 0.0 %

The company has a market cap of $3.41 billion, a price-to-earnings ratio of 39.26 and a beta of 0.83. The firm has a 50 day moving average price of $108.30 and a two-hundred day moving average price of $99.66.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results 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. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. The company had revenue of $63.50 million during the quarter, compared to analysts’ expectations of $64.52 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts expect that Agilysys, Inc. will post 0.62 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the completion of the sale, the chief executive officer now owns 738,367 shares of the company’s stock, valued at $75,335,585.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Agilysys news, insider Chris J. Robertson sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total value of $435,320.00. Following the completion of the sale, the insider now owns 22,888 shares of the company’s stock, valued at approximately $2,490,901.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the sale, the chief executive officer now directly owns 738,367 shares of the company’s stock, valued at $75,335,585.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock valued at $3,734,810 over the last 90 days. Company insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Agilysys by 12.3% in the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after acquiring an additional 217,008 shares during the period. Lord Abbett & CO. LLC boosted its position in Agilysys by 13.8% in the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after purchasing an additional 87,549 shares during the last quarter. Geneva Capital Management LLC boosted its position in Agilysys by 10.6% in the first quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock worth $57,805,000 after purchasing an additional 65,672 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Agilysys by 91.6% in the first quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock worth $2,797,000 after purchasing an additional 15,870 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Agilysys in the second quarter worth $1,847,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

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.