Agilysys, Inc. (NASDAQ:AGYS) Receives $124.60 Average Price Target from Brokerages

Agilysys, Inc. (NASDAQ:AGYS) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $124.60.

Several brokerages recently weighed in on AGYS. Needham & Company LLC boosted their price target on shares of Agilysys from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Oppenheimer reissued an “outperform” rating and issued a $118.00 price objective on shares of Agilysys in a research note on Tuesday, July 28th. Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a report on Tuesday, July 28th. Finally, Piper Sandler upped their target price on shares of Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th.

Insider Buying and Selling

In other news, CEO Ramesh Srinivasan sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $108.15, for a total transaction of $2,703,750.00. Following the transaction, the chief executive officer owned 610,044 shares of the company’s stock, valued at approximately $65,976,258.60. The trade was a 3.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William Wood, III sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $114.72, for a total value of $688,320.00. Following the completion of the sale, the chief financial officer owned 35,052 shares of the company’s stock, valued at approximately $4,021,165.44. This represents a 14.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 212,812 shares of company stock valued at $23,046,675. Insiders own 8.70% of the company’s stock.

Institutional Trading of Agilysys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGYS. Advisors Asset Management Inc. raised its holdings in shares of Agilysys by 30.1% in the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock worth $50,000 after buying an additional 159 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Agilysys by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock valued at $972,000 after acquiring an additional 569 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Agilysys by 125.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock valued at $24,080,000 after acquiring an additional 184,402 shares during the period. Jane Street Group LLC grew its position in Agilysys by 1,025.2% in the 1st quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock valued at $2,738,000 after acquiring an additional 34,395 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in Agilysys in the 2nd quarter valued at $231,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

Agilysys Trading Down 2.4%

NASDAQ:AGYS opened at $111.36 on Wednesday. The business’s 50-day moving average is $109.52 and its 200 day moving average is $87.58. Agilysys has a 12 month low of $61.50 and a 12 month high of $145.25. The company has a market capitalization of $3.14 billion, a P/E ratio of 73.75 and a beta of 0.38.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.09. The business had revenue of $87.68 million during the quarter, compared to analysts’ expectations of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. On average, research analysts forecast that Agilysys will post 1.73 earnings per share for the current year.

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.