Agilysys (NASDAQ:AGYS) Trading Up 2.7% After Analyst Upgrade

Agilysys, Inc. (NASDAQ:AGYSGet Rating)’s share price was up 2.7% during mid-day trading on Friday after Northland Securities raised their price target on the stock from $61.00 to $67.00. Northland Securities currently has an outperform rating on the stock. Agilysys traded as high as $48.02 and last traded at $48.02. Approximately 656 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 54,477 shares. The stock had previously closed at $46.77.

Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Agilysys from a “d+” rating to a “c-” rating in a research note on Friday, May 27th. Craig Hallum cut shares of Agilysys from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Wednesday, July 27th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $49.46, for a total transaction of $98,920.00. Following the completion of the transaction, the director now owns 38,423 shares in the company, valued at approximately $1,900,401.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Agilysys

Large investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in shares of Agilysys by 370.9% in the 1st quarter. Captrust Financial Advisors now owns 890 shares of the software maker’s stock valued at $35,000 after purchasing an additional 701 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Agilysys in the 2nd quarter valued at about $51,000. Nisa Investment Advisors LLC grew its stake in Agilysys by 36.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the software maker’s stock valued at $71,000 after acquiring an additional 400 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Agilysys by 45.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,809 shares of the software maker’s stock valued at $112,000 after acquiring an additional 882 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Agilysys by 16.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,281 shares of the software maker’s stock valued at $155,000 after acquiring an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Agilysys Trading Up 6.2 %

The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 225.83 and a beta of 1.09. The stock’s 50 day moving average is $50.31 and its 200 day moving average is $43.69.

Agilysys Company Profile

(Get Rating)

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, reservations management, and seat solutions to enhance guest experience.

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