Agilysys (NASDAQ:AGYS) Stock Rating Upgraded by Zacks Research

Agilysys (NASDAQ:AGYS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

AGYS has been the topic of a number of other research reports. Oppenheimer upped their price objective on Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Wall Street Zen lowered Agilysys from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. UBS Group reiterated a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Finally, Needham & Company LLC lowered their price objective on Agilysys from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.40.

Agilysys Price Performance

Shares of NASDAQ:AGYS opened at $72.17 on Thursday. The firm has a market capitalization of $2.03 billion, a PE ratio of 67.45 and a beta of 0.41. Agilysys has a 1 year low of $63.71 and a 1 year high of $145.25. The firm’s 50-day moving average is $99.63 and its two-hundred day moving average is $109.95.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Agilysys had a net margin of 9.79% and a return on equity of 10.71%. The business had revenue of $80.39 million during the quarter, compared to analyst estimates of $79.07 million. During the same quarter last year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts expect that Agilysys will post 0.8 EPS for the current fiscal year.

Insider Activity

In other Agilysys news, Director Melvin L. Keating acquired 300 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were acquired at an average price of $83.62 per share, for a total transaction of $25,086.00. Following the acquisition, the director owned 35,007 shares in the company, valued at $2,927,285.34. The trade was a 0.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGYS. Capital Research Global Investors purchased a new stake in shares of Agilysys during the 4th quarter worth approximately $104,878,000. Wellington Management Group LLP lifted its position in Agilysys by 75.9% in the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock valued at $72,675,000 after acquiring an additional 297,846 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Agilysys by 125.0% in the first quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock valued at $24,080,000 after acquiring an additional 184,402 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Agilysys by 38.7% during the second quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock worth $71,955,000 after purchasing an additional 175,137 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Agilysys by 28.1% during the second quarter. Invesco Ltd. now owns 545,386 shares of the software maker’s stock worth $62,523,000 after purchasing an additional 119,736 shares in the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

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.