Agilysys (NASDAQ:AGYS) Lowered to Hold Rating by Zacks Research

Agilysys (NASDAQ:AGYS) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

AGYS has been the topic of a number of other research reports. BTIG Research started coverage on shares of Agilysys in a research report on Tuesday, December 16th. They set a “neutral” rating on the stock. UBS Group reiterated a “buy” rating on shares of Agilysys in a report on Monday, December 15th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Agilysys in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Agilysys in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Agilysys currently has a consensus rating of “Moderate Buy” and an average target price of $141.17.

Agilysys Price Performance

Shares of AGYS opened at $119.45 on Monday. Agilysys has a 12 month low of $63.71 and a 12 month high of $145.25. The stock’s 50-day moving average is $124.00 and its two-hundred day moving average is $115.27. The stock has a market cap of $3.35 billion, a PE ratio of 138.90 and a beta of 0.42.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Wednesday, June 5th. The software maker reported $0.21 EPS for the quarter. The business had revenue of $36.34 million for the quarter. Agilysys had a return on equity of 11.22% and a net margin of 8.12%. On average, research analysts anticipate that Agilysys will post 0.8 earnings per share for the current year.

Insiders Place Their Bets

In other Agilysys news, CFO William David Wood III sold 584 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $125.20, for a total transaction of $73,116.80. Following the sale, the chief financial officer owned 41,052 shares in the company, valued at $5,139,710.40. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sethuram Shivashankar sold 497 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $124.64, for a total value of $61,946.08. Following the transaction, the insider directly owned 24,031 shares in the company, valued at approximately $2,995,223.84. This represents a 2.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 15,576 shares of company stock worth $1,882,370. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Several large investors have recently added to or reduced their stakes in AGYS. William Blair Investment Management LLC acquired a new position in Agilysys in the second quarter worth $58,993,000. Wellington Management Group LLP raised its holdings in shares of Agilysys by 75.9% during the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock worth $72,675,000 after purchasing an additional 297,846 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Agilysys by 125.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock worth $24,080,000 after buying an additional 184,402 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Agilysys by 38.7% in the 2nd quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock valued at $71,955,000 after buying an additional 175,137 shares during the period. Finally, Invesco Ltd. grew its position in shares of Agilysys by 28.1% during the 2nd quarter. Invesco Ltd. now owns 545,386 shares of the software maker’s stock valued at $62,523,000 after buying an additional 119,736 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.