Needham & Company LLC Cuts Agilysys (NASDAQ:AGYS) Price Target to $120.00

Agilysys (NASDAQ:AGYS) had its price target trimmed by Needham & Company LLC from $140.00 to $120.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other brokerages also recently commented on AGYS. Weiss Ratings restated a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Zacks Research downgraded shares of Agilysys from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 28th. Wall Street Zen downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Oppenheimer increased their target price on Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, BTIG Research initiated coverage on Agilysys in a report on Tuesday, December 16th. They set a “neutral” rating for the company. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $141.40.

Agilysys Stock Performance

AGYS opened at $78.60 on Tuesday. The company has a market capitalization of $2.21 billion, a PE ratio of 73.46 and a beta of 0.41. Agilysys has a one year low of $63.71 and a one year high of $145.25. The stock’s fifty day moving average is $105.50 and its 200-day moving average is $111.56.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.04). The firm had revenue of $80.39 million for the quarter, compared to analyst estimates of $79.07 million. Agilysys had a net margin of 9.79% and a return on equity of 10.71%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. On average, equities research analysts forecast that Agilysys will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Agilysys news, Director Melvin L. Keating acquired 300 shares of Agilysys stock in a transaction on Tuesday, February 3rd. The stock was purchased at an average price of $83.62 per share, for a total transaction of $25,086.00. Following the purchase, the director directly owned 35,007 shares of the company’s stock, valued at $2,927,285.34. This trade represents a 0.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Trading of Agilysys

A number of hedge funds have recently made changes to their positions in AGYS. Caitong International Asset Management Co. Ltd grew its stake in shares of Agilysys by 419.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock worth $25,000 after purchasing an additional 172 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Agilysys by 118.5% in the third quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock valued at $27,000 after acquiring an additional 141 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Agilysys in the 2nd quarter worth $30,000. Los Angeles Capital Management LLC purchased a new position in shares of Agilysys in the fourth quarter valued at $34,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Agilysys by 215.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock valued at $39,000 after acquiring an additional 250 shares during the last quarter. 88.00% of the stock is owned by institutional investors.

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.