Agilysys (NASDAQ:AGYS) Issues Earnings Results

Agilysys (NASDAQ:AGYS) announced its quarterly earnings data on Monday. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.09, FiscalAI reports. The firm had revenue of $87.68 million during the quarter, compared to analysts’ expectations of $85.97 million. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.

Agilysys Stock Up 4.8%

Shares of AGYS stock traded up $4.70 during trading hours on Monday, reaching $103.24. The company’s stock had a trading volume of 312,944 shares, compared to its average volume of 353,410. The firm’s 50 day simple moving average is $94.44 and its 200-day simple moving average is $85.03. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 75.91 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.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AGYS shares. Oppenheimer increased their target price on Agilysys from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Piper Sandler initiated coverage on Agilysys in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $110.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Agilysys in a research report on Tuesday, May 19th. UBS Group set a $110.00 price objective on shares of Agilysys in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Agilysys currently has a consensus rating of “Moderate Buy” and an average target price of $116.00.

Institutional Trading of Agilysys

Institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP boosted its stake in shares of Agilysys by 5.3% in the 2nd quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock valued at $115,204,000 after purchasing an additional 50,536 shares in the last quarter. State Street Corp increased its position in Agilysys by 0.5% during the 4th quarter. State Street Corp now owns 1,003,062 shares of the software maker’s stock worth $119,204,000 after purchasing an additional 4,516 shares in the last quarter. Wellington Management Group LLP increased its position in Agilysys by 75.9% during the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock worth $72,675,000 after purchasing an additional 297,846 shares in the last quarter. Franklin Resources Inc. lifted its stake in Agilysys by 9.5% in the 4th quarter. Franklin Resources Inc. now owns 422,384 shares of the software maker’s stock valued at $50,196,000 after purchasing an additional 36,806 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Agilysys by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 404,391 shares of the software maker’s stock valued at $48,059,000 after purchasing an additional 1,868 shares during the last quarter. 88.00% of the stock is currently 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.