Agilysys (NASDAQ:AGYS) Given New $135.00 Price Target at Needham & Company LLC

Agilysys (NASDAQ:AGYS) had its price target upped by Needham & Company LLC from $130.00 to $135.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 24.33% from the stock’s previous close.

Several other research analysts also recently issued reports on AGYS. Oppenheimer restated an “outperform” rating and set a $118.00 price objective on shares of Agilysys in a report on Tuesday, July 28th. Piper Sandler lifted their price target on shares of Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Agilysys in a report on Tuesday, July 28th. Finally, UBS Group set a $110.00 target price on shares of Agilysys in a research note on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating and three have given a Hold 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 target price of $124.60.

Agilysys Price Performance

NASDAQ:AGYS opened at $108.58 on Monday. The company’s 50 day moving average is $100.26 and its 200-day moving average is $84.52. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 71.91 and a beta of 0.37. Agilysys has a 12 month low of $61.50 and a 12 month high of $145.25.

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

Insider Activity at Agilysys

In other Agilysys news, CEO Ramesh Srinivasan sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 610,044 shares in the company, valued at approximately $65,976,258.60. This represents a 3.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 197,410 shares of company stock worth $21,285,381 in the last quarter. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Several hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in Agilysys by 419.5% in the fourth 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. Optiver Holding B.V. grew its stake in Agilysys by 700.0% in the 1st quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Agilysys during the fourth quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new stake in Agilysys in the 3rd quarter valued at $43,000. Finally, Versant Capital Management Inc increased its position in Agilysys by 123.9% during the 2nd quarter. Versant Capital Management Inc now owns 421 shares of the software maker’s stock worth $44,000 after buying an additional 233 shares during the period. 88.00% of the stock is owned by institutional investors.

Agilysys Company Profile

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.