Agilysys (NASDAQ:AGYS) Sets New 52-Week High After Analyst Upgrade

Shares of Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) hit a new 52-week high on Tuesday after Oppenheimer raised their price target on the stock from $120.00 to $135.00. Oppenheimer currently has an outperform rating on the stock. Agilysys traded as high as $125.96 and last traded at $124.91, with a volume of 35701 shares trading hands. The stock had previously closed at $122.89.

A number of other analysts have also weighed in on AGYS. StockNews.com lowered shares of Agilysys from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. Northland Securities reaffirmed an "outperform" rating and set a $145.00 price objective (up previously from $132.00) on shares of Agilysys in a research note on Tuesday, October 29th. BTIG Research lifted their price objective on Agilysys from $118.00 to $124.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Craig Hallum boosted their price target on Agilysys from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $125.00 price target on shares of Agilysys in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Agilysys has an average rating of "Moderate Buy" and an average target price of $130.80.

Insider Transactions at Agilysys

In other news, SVP Kyle C. Badger sold 471 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $47,505.06. Following the sale, the senior vice president now directly owns 115,117 shares in the company, valued at approximately $11,610,700.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Agilysys news, SVP Kyle C. Badger sold 471 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total transaction of $47,505.06. Following the completion of the transaction, the senior vice president now owns 115,117 shares in the company, valued at approximately $11,610,700.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Melvin L. Keating sold 3,280 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $122.84, for a total transaction of $402,915.20. Following the sale, the director now directly owns 34,407 shares of the company's stock, valued at approximately $4,226,555.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,023 shares of company stock worth $4,548,979. Company insiders own 19.30% of the company's stock.

Hedge Funds Weigh In On Agilysys

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Agilysys by 162.1% in the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker's stock worth $26,000 after buying an additional 154 shares in the last quarter. CWM LLC grew its holdings in Agilysys by 390.2% in the 2nd quarter. CWM LLC now owns 250 shares of the software maker's stock valued at $26,000 after buying an additional 199 shares in the last quarter. Larson Financial Group LLC purchased a new position in shares of Agilysys during the 2nd quarter worth $32,000. Advisors Asset Management Inc. lifted its stake in shares of Agilysys by 117.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker's stock worth $37,000 after purchasing an additional 182 shares during the period. Finally, NBC Securities Inc. purchased a new position in Agilysys during the 3rd quarter worth approximately $46,000. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Price Performance

The company's 50 day simple moving average is $108.71 and its 200 day simple moving average is $103.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. The stock has a market cap of $3.46 billion, a P/E ratio of 35.01 and a beta of 0.85.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings data 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. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The company had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities analysts forecast that Agilysys, Inc. will post 0.81 earnings per share for the current year.

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.