Agilysys (NASDAQ:AGYS) Raised to “Buy” at Wall Street Zen

Agilysys (NASDAQ:AGYS) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other research analysts also recently issued reports on AGYS. Oppenheimer reissued an “outperform” rating on shares of Agilysys in a research report on Tuesday, October 28th. Needham & Company LLC upped their price objective on shares of Agilysys from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Cantor Fitzgerald restated an “overweight” rating and set a $140.00 price objective on shares of Agilysys in a research report on Tuesday, October 28th. UBS Group set a $155.00 price objective on shares of Agilysys in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Agilysys in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Agilysys has an average rating of “Buy” and an average target price of $138.67.

Agilysys Trading Down 3.2%

Shares of NASDAQ:AGYS opened at $125.46 on Friday. The company has a market capitalization of $3.52 billion, a PE ratio of 145.89 and a beta of 0.61. Agilysys has a twelve month low of $63.71 and a twelve month high of $145.25. The firm has a 50 day simple moving average of $110.43 and a 200-day simple moving average of $105.37.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Wednesday, June 5th. The software maker reported $0.21 earnings per share for the quarter. The business had revenue of $36.34 million during the quarter. Agilysys had a net margin of 8.12% and a return on equity of 11.22%. As a group, equities research analysts predict that Agilysys will post 0.8 EPS for the current fiscal year.

Insider Activity

In related news, CFO William David Wood III sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $115.55, for a total value of $693,300.00. Following the sale, the chief financial officer directly owned 41,288 shares of the company’s stock, valued at approximately $4,770,828.40. This trade represents a 12.69% 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. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AGYS. Nuveen LLC acquired a new position in Agilysys during the first quarter valued at approximately $80,730,000. William Blair Investment Management LLC acquired a new position in Agilysys during the second quarter valued at approximately $58,993,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Agilysys during the first quarter valued at approximately $16,343,000. Wellington Management Group LLP lifted its position in Agilysys by 99.3% during the first quarter. Wellington Management Group LLP now owns 388,978 shares of the software maker’s stock valued at $28,216,000 after buying an additional 193,812 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Agilysys by 125.0% during the first quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock valued at $24,080,000 after buying an additional 184,402 shares in the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

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.