Agilysys (NASDAQ:AGYS) Raised to “Hold” at Zacks Research

Agilysys (NASDAQ:AGYS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research firms have also issued reports on AGYS. BTIG Research initiated coverage on Agilysys in a report on Tuesday, December 16th. They set a “neutral” rating on the stock. UBS Group restated a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Agilysys in a report on Wednesday, January 21st. Oppenheimer upped their price objective on shares of Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Finally, Wall Street Zen cut shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.40.

Agilysys Trading Down 1.6%

Shares of AGYS opened at $72.17 on Thursday. The company’s 50 day simple moving average is $99.63 and its 200-day simple moving average is $109.95. The firm has a market cap of $2.03 billion, a PE ratio of 67.45 and a beta of 0.41. Agilysys has a 12-month low of $63.71 and a 12-month high of $145.25.

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

Insider Transactions at Agilysys

In related news, Director Melvin L. Keating purchased 300 shares of Agilysys stock in a transaction dated Tuesday, February 3rd. The stock was bought at an average cost of $83.62 per share, for a total transaction of $25,086.00. Following the transaction, the director owned 35,007 shares in the company, valued at approximately $2,927,285.34. The trade was a 0.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

A number of institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake 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 purchasing an additional 172 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Agilysys by 118.5% in the third quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock valued at $27,000 after purchasing an additional 141 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Agilysys in the second quarter valued at $30,000. Los Angeles Capital Management LLC acquired a new position in shares of Agilysys during the 4th quarter worth $34,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Agilysys by 215.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock worth $39,000 after buying an additional 250 shares in 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.