StockNews.com Lowers Agilysys (NASDAQ:AGYS) to Hold

StockNews.com lowered shares of Agilysys (NASDAQ:AGYS) from a buy rating to a hold rating in a research note released on Tuesday.

Separately, Needham & Company LLC lifted their target price on Agilysys from $92.00 to $100.00 and gave the stock a buy rating in a report on Tuesday, January 23rd. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $88.75.

Agilysys Trading Up 0.1 %

NASDAQ:AGYS opened at $82.16 on Tuesday. The company has a 50-day moving average of $81.34 and a 200-day moving average of $80.13. Agilysys has a twelve month low of $62.00 and a twelve month high of $91.61. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 25.76 and a beta of 0.66.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, January 22nd. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. The firm had revenue of $60.57 million during the quarter, compared to analysts’ expectations of $60.07 million. Agilysys had a net margin of 38.27% and a return on equity of 20.54%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. On average, research analysts forecast that Agilysys will post 0.55 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Mak Capital One Llc sold 55,000 shares of Agilysys stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $76.24, for a total transaction of $4,193,200.00. Following the transaction, the insider now owns 3,149,539 shares in the company, valued at $240,120,853.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Mak Capital One Llc sold 55,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $76.24, for a total value of $4,193,200.00. Following the completion of the sale, the insider now directly owns 3,149,539 shares of the company’s stock, valued at $240,120,853.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William David Wood III sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $85.45, for a total transaction of $854,500.00. Following the transaction, the chief financial officer now directly owns 50,391 shares in the company, valued at $4,305,910.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,102,449 shares of company stock valued at $89,780,542. Company insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

A number of hedge funds have recently modified their holdings of the stock. Comerica Bank boosted its position in Agilysys by 1.4% during the fourth quarter. Comerica Bank now owns 9,174 shares of the software maker’s stock valued at $778,000 after purchasing an additional 123 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Agilysys by 2.0% in the 3rd quarter. Arizona State Retirement System now owns 6,502 shares of the software maker’s stock valued at $430,000 after buying an additional 129 shares in the last quarter. RiverPark Advisors LLC increased its holdings in Agilysys by 53.2% in the fourth quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $32,000 after buying an additional 133 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Agilysys by 13.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,185 shares of the software maker’s stock valued at $94,000 after acquiring an additional 139 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Agilysys by 31.8% during the second quarter. Tower Research Capital LLC TRC now owns 584 shares of the software maker’s stock valued at $40,000 after acquiring an additional 141 shares in the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.