Agilysys (NASDAQ:AGYS) Price Target Raised to $130.00

Agilysys (NASDAQ:AGYS) had its price target upped by Needham & Company LLC from $120.00 to $130.00 in a research note published on Tuesday, Marketbeat.com reports. They currently have a buy rating on the software maker’s stock.

Several other equities analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a report on Wednesday, June 17th. Oppenheimer lifted their price target on shares of Agilysys from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. UBS Group set a $110.00 price objective on Agilysys in a report on Wednesday, June 3rd. Finally, Zacks Research upgraded Agilysys from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Agilysys Stock Down 5.3%

Shares of AGYS opened at $107.66 on Tuesday. Agilysys has a 52-week low of $61.50 and a 52-week high of $145.25. The company has a market capitalization of $3.04 billion, a PE ratio of 71.30 and a beta of 0.37. The stock has a fifty day simple moving average of $96.95 and a two-hundred day simple moving average of $84.76.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.09. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The firm had revenue of $87.68 million for the quarter, compared to analysts’ expectations of $85.97 million. During the same quarter in the previous year, the company posted $0.33 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts anticipate that Agilysys will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agilysys

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its holdings in shares of Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock worth $50,000 after acquiring an additional 159 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Agilysys by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock valued at $972,000 after purchasing an additional 569 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Agilysys by 125.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock valued at $24,080,000 after purchasing an additional 184,402 shares during the last quarter. Jane Street Group LLC raised its position in Agilysys by 1,025.2% in the first quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock valued at $2,738,000 after purchasing an additional 34,395 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in Agilysys in the second quarter valued at approximately $231,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.