Agilysys (NASDAQ:AGYS) Price Target Raised to $135.00

Agilysys (NASDAQ:AGYSFree Report) had its price target lifted by Needham & Company LLC from $130.00 to $135.00 in a research note published on Monday, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

A number of other research firms have also recently weighed in on AGYS. Zacks Research cut shares of Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. UBS Group set a $110.00 price target on Agilysys in a research note on Wednesday, June 3rd. Oppenheimer reissued an “outperform” rating and issued a $118.00 price target on shares of Agilysys in a report on Tuesday, July 28th. Finally, Piper Sandler lifted their price objective on Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.60.

Get Our Latest Analysis on Agilysys

Agilysys Stock Up 0.7%

AGYS opened at $107.35 on Monday. The firm’s 50 day moving average is $101.24 and its 200-day moving average is $84.50. Agilysys has a 52-week low of $61.50 and a 52-week high of $145.25. The firm has a market capitalization of $3.03 billion, a P/E ratio of 71.09 and a beta of 0.37.

Agilysys (NASDAQ:AGYSGet Free Report) last announced its earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.09. The business had revenue of $87.68 million during the quarter, compared to the consensus estimate of $85.97 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Equities analysts expect that Agilysys will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Agilysys

In other news, CEO Ramesh Srinivasan sold 25,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $108.15, for a total value of $2,703,750.00. Following the sale, the chief executive officer owned 610,044 shares in the company, valued at approximately $65,976,258.60. This represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 197,410 shares of company stock valued at $21,285,381. 8.70% of the stock is currently owned by insiders.

Institutional Trading of Agilysys

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in Agilysys by 30.1% during the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock worth $50,000 after buying an additional 159 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Agilysys by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock worth $972,000 after acquiring an additional 569 shares in the last quarter. Goldman Sachs Group Inc. grew 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 acquiring an additional 184,402 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Agilysys by 1,025.2% in the 1st quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock valued at $2,738,000 after acquiring an additional 34,395 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of Agilysys in the 2nd quarter valued at approximately $231,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

About Agilysys

(Get Free Report)

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.

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