Northland Securities Reiterates "Outperform" Rating for Agilysys (NASDAQ:AGYS)

Northland Securities reaffirmed their outperform rating on shares of Agilysys (NASDAQ:AGYS - Free Report) in a research report report published on Tuesday, Benzinga reports. Northland Securities currently has a $145.00 price objective on the software maker's stock, up from their prior price objective of $132.00.

A number of other equities analysts also recently issued reports on AGYS. Oppenheimer raised their price objective on Agilysys from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. Craig Hallum raised their target price on Agilysys from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. StockNews.com raised Agilysys from a "hold" rating to a "buy" rating in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $125.00 target price on shares of Agilysys in a research note on Tuesday. Finally, BTIG Research raised their target price on Agilysys from $118.00 to $124.00 and gave the stock a "buy" rating in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $127.80.

Agilysys Stock Performance

Shares of AGYS traded down $8.98 during mid-day trading on Tuesday, reaching $102.51. 504,851 shares of the company were exchanged, compared to its average volume of 213,963. Agilysys has a 52 week low of $73.52 and a 52 week high of $125.73. The stock has a market capitalization of $2.86 billion, a PE ratio of 29.31 and a beta of 0.83. The business has a 50 day simple moving average of $109.17 and a two-hundred day simple moving average of $101.56.

Insider Buying and Selling at Agilysys

In other Agilysys news, Director John Mutch sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $113.69, for a total value of $113,690.00. Following the completion of the sale, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the transaction, the chief executive officer now owns 778,367 shares of the company's stock, valued at $85,441,345.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Mutch sold 1,000 shares of Agilysys stock in a transaction that occurred 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 transaction, the director now directly owns 36,326 shares in the company, valued at approximately $4,129,902.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,000 shares of company stock valued at $3,734,810. Company insiders own 19.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AGYS. Commonwealth Equity Services LLC bought a new position in Agilysys during the first quarter worth about $584,000. BNP Paribas Financial Markets lifted its holdings in shares of Agilysys by 91.6% in the first quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker's stock worth $2,797,000 after buying an additional 15,870 shares in the last quarter. RiverPark Advisors LLC lifted its holdings in shares of Agilysys by 361.1% in the first quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker's stock worth $149,000 after buying an additional 1,383 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Agilysys by 10.6% in the first quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker's stock worth $57,805,000 after buying an additional 65,672 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Agilysys by 1.1% in the first quarter. Swiss National Bank now owns 45,500 shares of the software maker's stock worth $3,834,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company's stock.

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.