Agilysys (NASDAQ:AGYS) Stock Price Down 4.5% – What’s Next?

Shares of Agilysys, Inc. (NASDAQ:AGYS – Get Free Report) dropped 4.5% during trading on Tuesday. The stock traded as low as $116.01 and last traded at $117.8450. 43,131 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 327,293 shares. The stock had previously closed at $123.45.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AGYS shares. Weiss Ratings restated a “hold (c)” rating on shares of Agilysys in a research report on Friday, October 9th. Piper Sandler raised their price objective on shares of Agilysys from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday. Needham & Company LLC boosted their price objective on shares of Agilysys from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Research downgraded Agilysys from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, UBS Group set a $145.00 price target on Agilysys in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.25.

Read Our Latest Research Report on Agilysys

Agilysys Price Performance

The company has a 50 day simple moving average of $108.47 and a 200-day simple moving average of $92.29. The firm has a market cap of $3.25 billion, a PE ratio of 73.80, a price-to-earnings-growth ratio of 3.49 and a beta of 0.37.

Agilysys (NASDAQ:AGYS – Get Free Report) last issued its quarterly earnings results on Monday, October 26th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. The company had revenue of $93.36 million during the quarter, compared to analyst estimates of $90.92 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. Agilysys’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. On average, sell-side analysts predict that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kyle C. Badger sold 8,400 shares of Agilysys stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total value of $958,104.00. Following the sale, the senior vice president owned 75,037 shares of the company’s stock, valued at $8,558,720.22. The trade was a 10.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joe Youssef sold 1,002 shares of Agilysys stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $114.64, for a total transaction of $114,869.28. Following the sale, the insider owned 19,045 shares of the company’s stock, valued at approximately $2,183,318.80. This trade represents a 5.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 212,812 shares of company stock valued at $23,046,675. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Agilysys

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Agilysys in the second quarter valued at approximately $431,704,000. Nine Ten Capital Management LLC grew its holdings in Agilysys by 0.3% during the 2nd quarter. Nine Ten Capital Management LLC now owns 655,513 shares of the software maker’s stock valued at $68,501,000 after buying an additional 1,922 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in Agilysys by 14.3% in the first quarter. Conestoga Capital Advisors LLC now owns 683,741 shares of the software maker’s stock worth $48,641,000 after purchasing an additional 85,600 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Agilysys in the second quarter worth about $45,312,000. Finally, Principal Financial Group Inc. raised its stake in Agilysys by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 463,682 shares of the software maker’s stock worth $32,986,000 after acquiring an additional 2,983 shares during the last quarter. 88.00% of the stock is owned by institutional investors.

Agilysys Company Profile

(Get Free Report)

Agilysys, Inc develops and provides hospitality technology for hotels, resorts, casinos, cruise lines and other guest-focused businesses. Its software and services are designed to help operators manage core property functions, improve guest experiences and streamline food, beverage and retail operations.

The company’s product portfolio includes property-management systems, point-of-sale solutions, inventory and procurement tools, payment services, guest-facing applications, mobile ordering and resort-management software.

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