Agilysys (NASDAQ:AGYS) Stock Rating Lowered by StockNews.com

Agilysys (NASDAQ:AGYS - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Wednesday.

Other research analysts also recently issued research reports about the stock. Northland Securities lifted their price target on shares of Agilysys from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Monday, September 16th. Oppenheimer boosted their price objective on shares of Agilysys from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. Craig Hallum boosted their price objective on shares of Agilysys from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. BTIG Research boosted their price objective on shares of Agilysys from $95.00 to $118.00 and gave the stock a "buy" rating in a research report on Friday, July 19th. Finally, Needham & Company LLC restated a "buy" rating and set a $125.00 price objective on shares of Agilysys in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.00.

Agilysys Stock Up 2.6 %

Agilysys stock traded up $2.78 during trading on Wednesday, reaching $111.60. The stock had a trading volume of 124,777 shares, compared to its average volume of 213,334. Agilysys has a 52-week low of $63.78 and a 52-week high of $114.70. The business has a 50 day moving average price of $107.08 and a 200 day moving average price of $98.32. The stock has a market cap of $3.06 billion, a PE ratio of 35.32 and a beta of 0.83.

Agilysys (NASDAQ:AGYS - Get Free Report) last issued its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The company had revenue of $63.50 million during the quarter, compared to the consensus estimate of $64.52 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm's quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts predict that Agilysys will post 0.62 EPS for the current fiscal year.

Insider Activity at Agilysys

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of the sale, the chief executive officer now owns 778,367 shares in the company, valued at $85,441,345.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the transaction, the chief executive officer now directly owns 778,367 shares of the company's stock, valued at approximately $85,441,345.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris J. Robertson sold 4,000 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total transaction of $435,320.00. Following the completion of the transaction, the insider now directly owns 22,888 shares in the company, valued at $2,490,901.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock worth $3,734,810 in the last 90 days. 23.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Agilysys

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Agilysys by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker's stock valued at $166,530,000 after buying an additional 217,008 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Agilysys by 13.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker's stock worth $60,920,000 after purchasing an additional 87,549 shares during the period. Geneva Capital Management LLC grew its stake in shares of Agilysys by 10.6% during the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker's stock worth $57,805,000 after purchasing an additional 65,672 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Agilysys by 91.6% during the 1st quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker's stock worth $2,797,000 after purchasing an additional 15,870 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Agilysys during the 2nd quarter worth $1,847,000. 88.00% of the stock is owned by institutional investors and hedge funds.

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.

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