Needham & Company LLC Forecasts Strong Price Appreciation for Agilysys (NASDAQ:AGYS) Stock

Agilysys (NASDAQ:AGYS - Free Report) had its price target increased by Needham & Company LLC from $125.00 to $145.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the software maker's stock.

Other analysts have also issued research reports about the company. Oppenheimer increased their price objective on Agilysys from $120.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday. Northland Securities reissued an "outperform" rating and issued a $145.00 price objective (up previously from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. StockNews.com cut Agilysys from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. BTIG Research raised their price objective on Agilysys from $118.00 to $124.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Finally, Craig Hallum raised their price objective on Agilysys from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $134.80.

Agilysys Trading Up 0.3 %

NASDAQ:AGYS traded up $0.35 during midday trading on Friday, hitting $121.19. The stock had a trading volume of 186,988 shares, compared to its average volume of 217,184. Agilysys has a one year low of $73.52 and a one year high of $128.61. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 34.45 and a beta of 0.85. The stock has a 50-day moving average of $109.68 and a 200 day moving average of $103.93. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. The company had revenue of $68.30 million during the quarter, compared to analyst estimates of $67.54 million. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. Agilysys's revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. As a group, sell-side analysts forecast that Agilysys will post 0.81 EPS for the current year.

Insiders Place Their Bets

In related news, Director Melvin L. Keating sold 3,280 shares of Agilysys stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $122.84, for a total value of $402,915.20. Following the completion of the transaction, the director now owns 34,407 shares in the company, valued at $4,226,555.88. The trade was a 8.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris J. Robertson sold 4,000 shares of Agilysys stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total value of $435,320.00. Following the completion of the transaction, the insider now owns 22,888 shares of the company's stock, valued at approximately $2,490,901.04. This represents a 14.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,023 shares of company stock valued at $4,548,979. 19.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Agilysys

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Agilysys by 1,197.1% during the 3rd quarter. FMR LLC now owns 505,690 shares of the software maker's stock worth $55,105,000 after purchasing an additional 466,704 shares during the last quarter. Vanguard Group Inc. lifted its stake in Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker's stock worth $166,530,000 after purchasing an additional 217,008 shares in the last quarter. American Century Companies Inc. increased its position in shares of Agilysys by 1,861.4% during the second quarter. American Century Companies Inc. now owns 221,109 shares of the software maker's stock worth $23,026,000 after acquiring an additional 209,836 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Agilysys during the second quarter worth $21,039,000. Finally, Conestoga Capital Advisors LLC purchased a new stake in shares of Agilysys during the second quarter worth $16,546,000. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Company Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.