Agilysys (NASDAQ:AGYS) Trading Down 5.4% – Here’s Why

Shares of Agilysys, Inc. (NASDAQ:AGYS) fell 5.4% during trading on Tuesday . The company traded as low as $100.31 and last traded at $100.54. Approximately 124,735 shares were traded during mid-day trading, a decline of 65% from the average session volume of 354,416 shares. The stock had previously closed at $106.28.

Analyst Ratings Changes

AGYS has been the subject of a number of analyst reports. Weiss Ratings raised shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. UBS Group set a $110.00 price target on shares of Agilysys in a research report on Wednesday, June 3rd. Zacks Research upgraded Agilysys from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 3rd. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of Agilysys in a report on Tuesday, May 19th. Finally, Oppenheimer increased their price target on Agilysys from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Agilysys currently has a consensus rating of “Moderate Buy” and an average price target of $116.00.

Agilysys Price Performance

The business has a 50-day simple moving average of $93.24 and a two-hundred day simple moving average of $85.30. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 71.35 and a beta of 0.37.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, May 18th. The software maker reported $0.63 EPS for the quarter, topping the consensus estimate of $0.51 by $0.12. The company had revenue of $82.95 million during the quarter, compared to the consensus estimate of $81.56 million. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. As a group, equities analysts anticipate that Agilysys, Inc. will post 1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agilysys

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew 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 buying an additional 172 shares during the last quarter. Optiver Holding B.V. grew its position in shares of Agilysys by 700.0% in the first quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock valued at $32,000 after purchasing 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 grew its holdings in Agilysys by 123.9% in the 2nd quarter. Versant Capital Management Inc now owns 421 shares of the software maker’s stock valued at $44,000 after buying an additional 233 shares in the last quarter. 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.