Agilysys (NASDAQ:AGYS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Agilysys from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Oppenheimer reiterated an “outperform” rating and issued a $135.00 price target (up from $118.00) on shares of Agilysys in a research note on Tuesday, October 27th. Piper Sandler raised their price target on Agilysys from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, October 27th. Needham & Company LLC boosted their price objective on Agilysys from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a research note on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.25.

Agilysys Trading Up 1.9%

Agilysys stock opened at $117.98 on Friday. Agilysys has a 12-month low of $61.50 and a 12-month high of $133.32. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 75.74, a P/E/G ratio of 3.29 and a beta of 0.37. The firm has a 50 day moving average of $108.58 and a 200 day moving average of $92.29.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Monday, October 26th. The software maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.12. The business had revenue of $93.36 million for the quarter, compared to the consensus estimate of $90.92 million. Agilysys had a net margin of 12.88% and a return on equity of 12.98%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, analysts predict that Agilysys will post 1.83 EPS for the current year.

Insider Activity

In related news, SVP Kyle Badger sold 8,400 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total transaction of $958,104.00. Following the completion of the transaction, the senior vice president directly owned 75,037 shares of the company’s stock, valued at approximately $8,558,720.22. This trade represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joe Youssef sold 1,002 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $114.64, for a total transaction of $114,869.28. Following the transaction, the insider directly owned 19,045 shares of the company’s stock, valued at $2,183,318.80. The trade was a 5.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 213,562 shares of company stock valued at $23,132,895 in the last quarter. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Agilysys in the second quarter worth about $431,704,000. Nine Ten Capital Management LLC grew its holdings in Agilysys by 0.3% during the 2nd quarter. Nine Ten Capital Management LLC now owns 655,513 shares of the software maker’s stock valued at $68,501,000 after buying an additional 1,922 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Agilysys during the 2nd quarter valued at approximately $45,312,000. Principal Financial Group Inc. increased its stake in Agilysys by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 463,682 shares of the software maker’s stock worth $32,986,000 after acquiring an additional 2,983 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Agilysys by 38.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 377,038 shares of the software maker’s stock worth $26,825,000 after acquiring an additional 103,752 shares during the last quarter. Institutional investors own 88.00% of the company’s stock.

About Agilysys

Agilysys, Inc develops and provides hospitality technology for hotels, resorts, casinos, cruise lines and other guest-focused businesses. Its software and services are designed to help operators manage core property functions, improve guest experiences and streamline food, beverage and retail operations.

The company’s product portfolio includes property-management systems, point-of-sale solutions, inventory and procurement tools, payment services, guest-facing applications, mobile ordering and resort-management software.