Agilysys (NASDAQ:AGYS) Shares Gap Up After Analyst Upgrade

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report)'s share price gapped up before the market opened on Tuesday after BTIG Research raised their price target on the stock from $118.00 to $124.00. The stock had previously closed at $111.49, but opened at $119.83. BTIG Research currently has a buy rating on the stock. Agilysys shares last traded at $106.11, with a volume of 30,417 shares changing hands.

AGYS has been the topic of several other reports. Craig Hallum upped their price objective on Agilysys from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Northland Securities lifted their price objective on Agilysys from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, September 16th. Needham & Company LLC restated a "buy" rating and set a $125.00 target price on shares of Agilysys in a research note on Monday, September 16th. Oppenheimer increased their price objective on shares of Agilysys from $100.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, July 19th. Finally, StockNews.com raised shares of Agilysys from a "hold" rating to a "buy" rating in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Agilysys currently has an average rating of "Buy" and a consensus price target of $127.80.

Insiders Place Their Bets

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the sale, the chief executive officer now directly owns 738,367 shares in the company, valued at $75,335,585.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director John Mutch sold 1,000 shares of the company's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total value of $113,690.00. Following the completion of the transaction, the director now owns 36,326 shares of the company's stock, valued at approximately $4,129,902.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the transaction, the chief executive officer now owns 738,367 shares in the company, valued at $75,335,585.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,000 shares of company stock worth $3,734,810. Company insiders own 19.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Agilysys by 12.3% in the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker's stock worth $166,530,000 after buying an additional 217,008 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in 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 purchasing an additional 87,549 shares in the last quarter. Geneva Capital Management LLC boosted its holdings 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 valued at $57,805,000 after purchasing an additional 65,672 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings 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 valued at $2,797,000 after purchasing an additional 15,870 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Agilysys during the second quarter valued at about $1,847,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

Agilysys Stock Down 8.1 %

The stock has a market capitalization of $2.86 billion, a P/E ratio of 29.31 and a beta of 0.83. The company has a fifty day moving average price of $109.17 and a 200-day moving average price of $101.56.

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.