Agilysys (NASDAQ:AGYS) Posts Earnings Results, Beats Estimates By $0.09 EPS

Agilysys (NASDAQ:AGYS) issued its earnings results on Monday. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.09, FiscalAI reports. The business had revenue of $87.68 million for the quarter, compared to analyst estimates of $85.97 million. Agilysys had a net margin of 12.15% and a return on equity of 11.07%.

Agilysys Trading Up 4.8%

AGYS stock traded up $4.70 during trading on Monday, hitting $103.24. 316,287 shares of the stock traded hands, compared to its average volume of 353,772. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 75.91 and a beta of 0.37. Agilysys has a one year low of $61.50 and a one year high of $145.25. The company has a 50 day simple moving average of $94.44 and a 200 day simple moving average of $85.03.

Analyst Ratings Changes

AGYS has been the topic of a number of recent research reports. Oppenheimer lifted their price objective on Agilysys from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Agilysys in a report on Wednesday, June 17th. Piper Sandler initiated coverage on Agilysys in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $110.00 target price for the company. Weiss Ratings raised Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of Agilysys in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Agilysys has an average rating of “Moderate Buy” and a consensus target price of $116.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Agilysys by 75.9% during the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock valued at $72,675,000 after purchasing an additional 297,846 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Agilysys by 125.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock worth $24,080,000 after buying an additional 184,402 shares during the period. Millennium Management LLC grew its position in shares of Agilysys by 426.9% during the 3rd quarter. Millennium Management LLC now owns 117,861 shares of the software maker’s stock worth $12,405,000 after buying an additional 95,494 shares during the period. Sei Investments Co. raised its stake in shares of Agilysys by 205.5% during the second quarter. Sei Investments Co. now owns 129,948 shares of the software maker’s stock worth $14,897,000 after buying an additional 87,416 shares during the last quarter. Finally, Bamco Inc. NY raised its stake in shares of Agilysys by 245.3% during the second quarter. Bamco Inc. NY now owns 93,809 shares of the software maker’s stock worth $10,754,000 after buying an additional 66,644 shares during the last quarter. Institutional investors 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.