Agilysys (NASDAQ:AGYS) Stock Price Down 4.5% Following Analyst Downgrade

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) was down 4.5% during trading on Thursday after Craig Hallum lowered their price target on the stock from $125.00 to $120.00. Craig Hallum currently has a buy rating on the stock. Agilysys traded as low as $97.00 and last traded at $96.14. Approximately 125,868 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 342,362 shares. The stock had previously closed at $100.67.

A number of other brokerages also recently commented on AGYS. Northland Securities lifted their price objective on Agilysys from $145.00 to $186.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. Needham & Company LLC dropped their target price on Agilysys from $145.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday. StockNews.com downgraded shares of Agilysys from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. BTIG Research lifted their target price on Agilysys from $118.00 to $124.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Finally, Oppenheimer lowered their price objective on shares of Agilysys from $150.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Agilysys presently has an average rating of "Moderate Buy" and a consensus price target of $138.00.

Insider Activity at Agilysys

In related news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $130.55, for a total value of $979,125.00. Following the completion of the sale, the director now owns 330,576 shares in the company, valued at approximately $43,156,696.80. This represents a 2.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris J. Robertson sold 264 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $26,627.04. Following the completion of the sale, the insider now owns 22,624 shares of the company's stock, valued at $2,281,856.64. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,622 shares of company stock worth $9,727,391 over the last ninety days. 19.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Agilysys

Several institutional investors and hedge funds have recently bought and sold shares of AGYS. Advisors Asset Management Inc. boosted its position in Agilysys by 117.4% during the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker's stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Agilysys by 109.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker's stock valued at $49,000 after buying an additional 193 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Agilysys by 66.7% in the 3rd quarter. GAMMA Investing LLC now owns 415 shares of the software maker's stock valued at $45,000 after buying an additional 166 shares in the last quarter. NBC Securities Inc. acquired a new position in Agilysys in the third quarter worth approximately $46,000. Finally, Exchange Traded Concepts LLC raised its position in Agilysys by 76.2% during the third quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker's stock valued at $52,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company's stock.

Agilysys Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.07. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 115.30 and a beta of 0.94. The stock's 50 day simple moving average is $130.27 and its 200-day simple moving average is $116.55.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings data 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. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The business had revenue of $69.60 million during the quarter, compared to analyst estimates of $73,149.20 billion. During the same quarter in the previous year, the business earned $0.35 EPS. Agilysys's quarterly revenue was up 14.9% compared to the same quarter last year. On average, analysts expect that Agilysys, Inc. will post 0.81 EPS for the current fiscal 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.