Agilysys (NASDAQ:AGYS) Sets New 12-Month High – Here’s Why

Agilysys, Inc. (NASDAQ:AGYS) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $124.99 and last traded at $124.43, with a volume of 7000 shares trading hands. The stock had previously closed at $124.06.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AGYS shares. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a research note on Monday, September 16th. Oppenheimer upped their target price on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Northland Securities upped their target price on Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, BTIG Research upped their target price on Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Agilysys Trading Up 0.0 %

The business has a fifty day moving average price of $108.30 and a 200-day moving average price of $99.66. The stock has a market capitalization of $3.41 billion, a PE ratio of 39.26 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $63.50 million during the quarter, compared to analysts’ expectations of $64.52 million. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. Agilysys’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. On average, equities analysts anticipate that Agilysys, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Activity at Agilysys

In related news, Director John Mutch sold 1,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the sale, the director now directly owns 36,326 shares in the company, valued at $4,129,902.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John Mutch sold 1,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the sale, the director now directly owns 36,326 shares in the company, valued at $4,129,902.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the transaction, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at $85,441,345.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock worth $3,734,810 in the last ninety days. 23.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after purchasing an additional 154 shares during the last quarter. CWM LLC raised its position in shares of Agilysys by 390.2% in the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after acquiring an additional 199 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of Agilysys in the 2nd quarter worth approximately $32,000. NBC Securities Inc. bought a new position in shares of Agilysys in the 3rd quarter worth approximately $46,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Agilysys by 76.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock worth $52,000 after acquiring an additional 205 shares in the last quarter. Institutional investors own 88.00% of the company’s stock.

About Agilysys

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.