Agilysys’ (AGYS) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Agilysys (NASDAQ:AGYS) in a report published on Tuesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a $125.00 price objective on the software maker’s stock.

A number of other brokerages have also commented on AGYS. Oppenheimer increased their price target on Agilysys from $100.00 to $120.00 and gave the company an outperform rating in a research note on Friday, July 19th. William Blair started coverage on Agilysys in a research report on Monday, June 24th. They set an outperform rating on the stock. BTIG Research lifted 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. Finally, StockNews.com cut shares of Agilysys from a buy rating to a hold rating in a research report on Thursday, July 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $122.00.

Agilysys Stock Up 2.5 %

Shares of Agilysys stock opened at $108.11 on Tuesday. Agilysys has a 52-week low of $63.78 and a 52-week high of $112.61. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 34.21 and a beta of 0.82. The company’s 50-day simple moving average is $100.57 and its 200-day simple moving average is $88.32.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 13.73%. The firm had revenue of $63.50 million for the quarter, compared to analysts’ expectations of $64.52 million. During the same quarter last year, the company earned $0.18 EPS. Agilysys’s quarterly revenue was up 13.2% on a year-over-year basis. Equities research analysts anticipate that Agilysys will post 0.69 EPS for the current year.

Insider Activity

In other news, CEO Ramesh Srinivasan sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $96.50, for a total value of $4,825,000.00. Following the completion of the sale, the chief executive officer now directly owns 988,367 shares of the company’s stock, valued at $95,377,415.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Kyle C. Badger sold 8,948 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $99.15, for a total transaction of $887,194.20. Following the completion of the sale, the senior vice president now directly owns 166,943 shares of the company’s stock, valued at $16,552,398.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ramesh Srinivasan sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $96.50, for a total transaction of $4,825,000.00. Following the completion of the transaction, the chief executive officer now owns 988,367 shares in the company, valued at approximately $95,377,415.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,935 shares of company stock valued at $67,375,071. 23.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after buying an additional 217,008 shares in the last quarter. Wasatch Advisors LP raised its holdings in Agilysys by 439.5% during the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after purchasing an additional 820,840 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Agilysys by 13.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after acquiring an additional 87,549 shares in the last quarter. Geneva Capital Management LLC lifted its position in Agilysys by 10.6% in the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock valued at $57,805,000 after acquiring an additional 65,672 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Agilysys by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock worth $33,970,000 after purchasing an additional 20,703 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Company Profile

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.