Melvin Keating Acquires 240 Shares of Agilysys (NASDAQ:AGYS) Stock

Agilysys, Inc. (NASDAQ:AGYS) Director Melvin Keating acquired 240 shares of Agilysys stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average price of $68.12 per share, with a total value of $16,348.80. Following the completion of the purchase, the director directly owned 35,407 shares of the company’s stock, valued at $2,411,924.84. The trade was a 0.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Agilysys Stock Performance

Shares of NASDAQ:AGYS opened at $69.56 on Friday. Agilysys, Inc. has a 52-week low of $63.71 and a 52-week high of $145.25. The stock’s 50-day moving average is $86.62 and its 200-day moving average is $106.55. The company has a market cap of $1.96 billion, a P/E ratio of 65.01 and a beta of 0.36.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.04). Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The company had revenue of $80.39 million for the quarter, compared to the consensus estimate of $79.07 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities analysts predict that Agilysys, Inc. will post 0.8 EPS for the current year.

Analyst Upgrades and Downgrades

AGYS has been the subject of a number of analyst reports. Needham & Company LLC cut their price objective on Agilysys from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. BTIG Research assumed coverage on shares of Agilysys in a research report on Tuesday, December 16th. They set a “neutral” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Agilysys in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, UBS Group reiterated a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in Agilysys by 419.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock valued at $25,000 after acquiring an additional 172 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Agilysys by 118.5% during the third quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock worth $27,000 after purchasing an additional 141 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Agilysys during the second quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of Agilysys in the fourth quarter valued at approximately $34,000. Finally, Farther Finance Advisors LLC raised its position in shares of Agilysys by 215.5% during the third quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock worth $39,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

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.