Agilysys (NASDAQ:AGYS) Sees Large Volume Increase - What's Next?

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 650,892 shares changed hands during mid-day trading, an increase of 56% from the previous session's volume of 417,654 shares.The stock last traded at $85.04 and had previously closed at $85.17.

Analysts Set New Price Targets

AGYS has been the subject of a number of research analyst reports. BTIG Research upped their price objective on shares of Agilysys from $118.00 to $124.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. StockNews.com downgraded Agilysys from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Craig Hallum lowered their price objective on Agilysys from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Oppenheimer reduced their target price on Agilysys from $150.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC lowered their price target on shares of Agilysys from $145.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Agilysys has a consensus rating of "Moderate Buy" and an average target price of $138.00.

Agilysys Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $121.72 and a 200-day simple moving average of $115.28. The company has a market capitalization of $2.43 billion, a P/E ratio of 108.55 and a beta of 0.93.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $69.60 million during the quarter, compared to the consensus estimate of $73.15 million. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The firm's quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. Equities analysts forecast that Agilysys, Inc. will post 0.8 EPS for the current year.

Insider Buying and Selling

In other news, Director John Mutch sold 500 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $137.86, for a total transaction of $68,930.00. Following the transaction, the director now directly owns 34,654 shares in the company, valued at approximately $4,777,400.44. This represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William David Wood III sold 1,870 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $134.01, for a total transaction of $250,598.70. Following the completion of the sale, the chief financial officer now directly owns 47,609 shares of the company's stock, valued at approximately $6,380,082.09. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,879 shares of company stock worth $9,316,137 in the last three months. Insiders own 19.30% of the company's stock.

Institutional Investors Weigh In On Agilysys

A number of institutional investors and hedge funds have recently made changes to their positions in AGYS. Lord Abbett & CO. LLC increased its position in Agilysys by 47.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker's stock worth $115,383,000 after purchasing an additional 340,424 shares during the period. State Street Corp grew its position in shares of Agilysys by 5.0% during the 3rd quarter. State Street Corp now owns 918,823 shares of the software maker's stock worth $100,124,000 after buying an additional 43,760 shares during the period. Geneva Capital Management LLC raised its stake in shares of Agilysys by 0.4% during the third quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker's stock worth $73,597,000 after buying an additional 2,687 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Agilysys by 6.2% in the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker's stock valued at $57,614,000 after buying an additional 30,655 shares during the period. Finally, FMR LLC boosted its stake in Agilysys by 1,197.1% in the third quarter. FMR LLC now owns 505,690 shares of the software maker's stock valued at $55,105,000 after acquiring an additional 466,704 shares during the last quarter. Institutional investors own 88.00% of the company's stock.

About Agilysys

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.