Agilysys (NASDAQ:AGYS) Shares Gap Up Following Strong Earnings

Agilysys, Inc. (NASDAQ:AGYS) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $83.02, but opened at $86.14. Agilysys shares last traded at $97.13, with a volume of 154,840 shares trading hands.

The software maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.28. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The firm had revenue of $74.27 million for the quarter, compared to analysts’ expectations of $71.43 million. During the same period last year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AGYS. UBS Group set a $100.00 target price on shares of Agilysys in a report on Wednesday, March 5th. Craig Hallum decreased their price target on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC boosted their target price on Agilysys from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Oppenheimer dropped their price target on shares of Agilysys from $135.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.83.

Insider Buying and Selling

In related news, Director John Mutch sold 750 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $75.33, for a total transaction of $56,497.50. Following the completion of the transaction, the director now owns 31,904 shares in the company, valued at approximately $2,403,328.32. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Agilysys

Several institutional investors and hedge funds have recently modified their holdings of AGYS. Harbor Investment Advisory LLC lifted its position in Agilysys by 64.6% during the first quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker’s stock worth $44,000 after purchasing an additional 239 shares during the period. Advisors Asset Management Inc. raised its position in shares of Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after buying an additional 159 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Agilysys by 381.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock worth $57,000 after acquiring an additional 336 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Agilysys during the 4th quarter worth approximately $61,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Agilysys in the fourth quarter valued at approximately $64,000. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Trading Up 22.1%

The firm’s 50-day simple moving average is $74.88 and its 200 day simple moving average is $98.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 126.71 and a beta of 0.58.

Agilysys Company Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.