Agilysys, Inc. (NASDAQ:AGYS) Receives $123.60 Consensus Target Price from Brokerages

Agilysys, Inc. (NASDAQ:AGYS – Get Free Report) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $124.60.

Several equities analysts have commented on the company. Piper Sandler increased their target price on Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Zacks Research cut Agilysys from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $118.00 price objective on shares of Agilysys in a research note on Tuesday, July 28th. Needham & Company LLC raised their price objective on shares of Agilysys from $130.00 to $135.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, UBS Group set a $110.00 target price on shares of Agilysys in a research report on Wednesday, June 3rd.

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Insider Transactions at Agilysys

In other news, CEO Ramesh Srinivasan sold 106,205 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 635,044 shares of the company’s stock, valued at approximately $67,708,391.28. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 197,410 shares of company stock valued at $21,285,381. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Agilysys

A number of institutional investors and hedge funds have recently bought and sold shares of AGYS. BlackRock Inc. acquired a new position in Agilysys during the 2nd quarter worth about $431,704,000. Capital Research Global Investors bought a new position in shares of Agilysys during the fourth quarter worth about $104,878,000. William Blair Investment Management LLC bought a new position in shares of Agilysys during the second quarter worth about $45,312,000. Wellington Management Group LLP lifted its stake in shares of Agilysys by 75.9% in the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock worth $72,675,000 after acquiring an additional 297,846 shares during the period. Finally, Wasatch Advisors LP lifted its stake in shares of Agilysys by 33.0% in the first quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker’s stock worth $67,848,000 after acquiring an additional 236,373 shares during the period. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Stock Performance

NASDAQ AGYS opened at $114.00 on Friday. The firm’s fifty day moving average price is $102.27 and its two-hundred day moving average price is $84.76. The stock has a market cap of $3.22 billion, a PE ratio of 75.50 and a beta of 0.37. Agilysys has a fifty-two week low of $61.50 and a fifty-two week high of $145.25.

Agilysys (NASDAQ:AGYS – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The company had revenue of $87.68 million during the quarter, compared to analysts’ expectations of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.Agilysys’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. As a group, sell-side analysts predict that Agilysys will post 1.73 earnings per share for the current fiscal year.

About Agilysys

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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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