Agilysys (NASDAQ:AGYS) Issues Earnings Results, Beats Expectations By $0.04 EPS

Agilysys (NASDAQ:AGYS) posted its quarterly earnings results on Monday. The software maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04, Briefing.com reports. The business had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. Agilysys’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share.

Agilysys Stock Down 3.0 %

AGYS stock traded down $3.12 during midday trading on Wednesday, hitting $99.39. The company’s stock had a trading volume of 33,050 shares, compared to its average volume of 213,102. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 28.32 and a beta of 0.83. Agilysys has a 1 year low of $73.52 and a 1 year high of $125.73. The stock’s 50-day moving average price is $109.04 and its 200 day moving average price is $101.70.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AGYS shares. Oppenheimer raised their price objective on Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday. Northland Securities reissued an “outperform” rating and set a $145.00 target price (up previously from $132.00) on shares of Agilysys in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price objective on shares of Agilysys in a research note on Tuesday. Finally, Craig Hallum raised their target price on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $127.80.

Insider Activity

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the sale, the chief executive officer now directly owns 738,367 shares in the company, valued at approximately $75,335,585.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total value of $435,320.00. Following the transaction, the insider now owns 22,888 shares in the company, valued at approximately $2,490,901.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the completion of the transaction, the chief executive officer now owns 738,367 shares of the company’s stock, valued at approximately $75,335,585.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock worth $3,734,810 in the last three months. Corporate insiders own 19.30% of the company’s stock.

Agilysys Company Profile

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.