Agilysys, Inc. (NASDAQ:AGYS – Get Free Report)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $88.91 and traded as high as $109.22. Agilysys shares last traded at $109.07, with a volume of 245,233 shares traded.
Analysts Set New Price Targets
Several equities research analysts have recently commented on AGYS shares. Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a research note on Tuesday, July 28th. Oppenheimer reiterated an “outperform” rating and issued a $118.00 price objective on shares of Agilysys in a research report on Tuesday, July 28th. Piper Sandler boosted their price objective on shares of Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Needham & Company LLC upped their price objective on shares of Agilysys from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, UBS Group set a $110.00 price objective on shares of Agilysys in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $124.60.
View Our Latest Research Report on Agilysys
Agilysys Stock Up 0.5%
Agilysys (NASDAQ:AGYS – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The business had revenue of $87.68 million for the quarter, compared to analysts’ expectations of $85.97 million. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts anticipate that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.
Insider Activity at Agilysys
In other news, CEO Ramesh Srinivasan sold 106,205 shares of Agilysys stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $106.62, for a total transaction of $11,323,577.10. Following the completion of the sale, the chief executive officer directly owned 635,044 shares in the company, valued at approximately $67,708,391.28. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kyle Badger sold 8,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $114.06, for a total value of $958,104.00. Following the completion of the sale, the senior vice president owned 75,037 shares in the company, valued at approximately $8,558,720.22. This represents a 10.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 212,812 shares of company stock valued at $23,046,675. 8.70% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of AGYS. BlackRock Inc. acquired a new position in shares of Agilysys during the 2nd quarter valued at about $431,704,000. Quantinno Capital Management LP increased its position in shares of Agilysys by 107.2% in the first quarter. Quantinno Capital Management LP now owns 9,579 shares of the software maker’s stock worth $681,000 after acquiring an additional 4,955 shares in the last quarter. First Trust Advisors LP increased its position in shares of Agilysys by 59.1% in the first quarter. First Trust Advisors LP now owns 43,660 shares of the software maker’s stock worth $3,106,000 after acquiring an additional 16,212 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Agilysys by 64.8% in the 1st quarter. Jennison Associates LLC now owns 365,580 shares of the software maker’s stock valued at $26,007,000 after acquiring an additional 143,789 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Agilysys by 38.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 377,038 shares of the software maker’s stock valued at $26,825,000 after acquiring an additional 103,752 shares during the period. 88.00% of the stock is owned by hedge funds and other institutional investors.
Agilysys Company Profile
Agilysys, Inc develops and provides hospitality software and technology solutions for hotels, resorts, casinos, cruise lines, corporate foodservice operations, universities and other hospitality-focused organizations. Its offerings are designed to help businesses manage guest experiences, property operations and back-office processes.
The company’s product portfolio includes property management systems, point-of-sale solutions, inventory and procurement software, workforce management tools, guest engagement applications, payment solutions and related services.
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