Agilysys (NASDAQ:AGYS) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on AGYS. Weiss Ratings downgraded shares of Agilysys from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Piper Sandler started coverage on shares of Agilysys in a research report on Tuesday. They issued an “overweight” rating and a $110.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Agilysys in a research report on Tuesday, May 19th. Oppenheimer lifted their target price on shares of Agilysys from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Finally, UBS Group set a $110.00 target price on shares of Agilysys in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Agilysys currently has an average rating of “Moderate Buy” and a consensus price target of $116.00.

Agilysys Stock Up 1.2%

Shares of AGYS opened at $89.42 on Wednesday. The company has a market capitalization of $2.52 billion, a P/E ratio of 65.75 and a beta of 0.41. The firm has a 50 day moving average of $72.17 and a 200 day moving average of $91.00. Agilysys has a twelve month low of $61.50 and a twelve month high of $145.25.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, May 18th. The software maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.12. Agilysys had a net margin of 12.15% and a return on equity of 11.07%. The company had revenue of $82.95 million during the quarter, compared to the consensus estimate of $81.56 million. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Agilysys will post 1.75 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AGYS. Caitong International Asset Management Co. Ltd boosted its stake in shares of Agilysys by 419.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock worth $25,000 after acquiring an additional 172 shares during the last quarter. Optiver Holding B.V. boosted its stake in shares of Agilysys by 700.0% during the 1st quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock worth $32,000 after acquiring an additional 399 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Agilysys during the 4th quarter worth $34,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Agilysys during the 3rd quarter worth $43,000. Finally, Bessemer Group Inc. boosted its stake in shares of Agilysys by 194.3% during the 3rd quarter. Bessemer Group Inc. now owns 412 shares of the software maker’s stock worth $44,000 after acquiring an additional 272 shares during the last quarter. Hedge funds and other 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.