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

StockNews.com downgraded shares of Agilysys (NASDAQ:AGYS - Free Report) from a buy rating to a hold rating in a research report released on Thursday morning.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a "buy" rating and set a $125.00 price target on shares of Agilysys in a research report on Tuesday. BTIG Research upped their price target on shares of Agilysys from $118.00 to $124.00 and gave the stock a "buy" rating in a research report on Tuesday. Oppenheimer upped their price target 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. 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. Finally, Craig Hallum upped their price objective on shares of Agilysys from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Agilysys currently has an average rating of "Moderate Buy" and an average target price of $127.80.

Agilysys Trading Up 1.7 %

Shares of Agilysys stock traded up $1.66 during trading hours on Thursday, reaching $100.04. The stock had a trading volume of 313,042 shares, compared to its average volume of 215,047. The stock's 50 day moving average is $108.66 and its 200 day moving average is $101.67. The firm has a market capitalization of $2.80 billion, a PE ratio of 28.50 and a beta of 0.83. Agilysys has a twelve month low of $73.52 and a twelve month high of $125.73.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The firm had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The company's revenue for the quarter was up 16.6% on a year-over-year basis. As a group, sell-side analysts predict that Agilysys will post 0.62 earnings per share for the current year.

Insider Activity

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $85,441,345.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $85,441,345.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Mutch sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the sale, the director now directly owns 36,326 shares of the company's stock, valued at approximately $4,129,902.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock valued at $3,734,810 in the last 90 days. Company insiders own 19.30% of the company's stock.

Hedge Funds Weigh In On Agilysys

Several large investors have recently made changes to their positions in AGYS. Vanguard Group Inc. lifted its holdings in shares of Agilysys by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker's stock worth $166,530,000 after acquiring an additional 217,008 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Agilysys by 1,861.4% in the 2nd 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 last quarter. William Blair Investment Management LLC acquired a new position in shares of Agilysys in the 2nd quarter worth approximately $21,039,000. Conestoga Capital Advisors LLC acquired a new position in shares of Agilysys in the 2nd quarter worth approximately $16,546,000. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Agilysys by 13.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker's stock worth $60,920,000 after acquiring an additional 87,549 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

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.