Agilysys (NASDAQ:AGYS) Lifted to Buy at StockNews.com

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

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

Agilysys Stock Down 0.1 %

Shares of NASDAQ:AGYS traded down $0.06 during trading on Wednesday, reaching $108.77. 141,118 shares of the company's stock traded hands, compared to its average volume of 212,924. The company has a 50-day simple moving average of $109.05 and a 200-day simple moving average of $100.86. Agilysys has a fifty-two week low of $72.06 and a fifty-two week high of $125.73. The firm has a market cap of $2.99 billion, a PE ratio of 34.42 and a beta of 0.83.

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

Insider Buying and Selling at Agilysys

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the firm'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 directly owns 738,367 shares in the company, valued at $75,335,585.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Mutch sold 1,000 shares of Agilysys 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 transaction, the director now owns 36,326 shares in the company, valued at $4,129,902.94. This 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 worth $3,734,810 over the last ninety days. Company insiders own 23.60% of the company's stock.

Institutional Trading of Agilysys

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its holdings in shares of Agilysys by 19.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 199,207 shares of the software maker's stock worth $21,708,000 after purchasing an additional 33,066 shares in the last quarter. International Assets Investment Management LLC bought a new position in Agilysys in the 3rd quarter valued at $8,312,000. Blue Trust Inc. boosted its stake in Agilysys by 1,838.8% in the third quarter. Blue Trust Inc. now owns 950 shares of the software maker's stock worth $99,000 after purchasing an additional 901 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Agilysys during the third quarter worth $46,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Agilysys by 76.2% during the third quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker's stock worth $52,000 after purchasing an additional 205 shares during the last quarter. 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.

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