Agilysys (NASDAQ:AGYS) Earns “Buy” Rating from Needham & Company LLC

Agilysys (NASDAQ:AGYS)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $105.00 price objective on the software maker’s stock, up from their prior price objective of $100.00. Needham & Company LLC’s price objective points to a potential upside of 2.25% from the stock’s previous close.

Several other brokerages also recently weighed in on AGYS. Oppenheimer cut their price target on Agilysys from $135.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. UBS Group set a $100.00 target price on Agilysys in a research report on Wednesday, March 5th. Finally, Craig Hallum dropped their target price on Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Agilysys has an average rating of “Moderate Buy” and an average price target of $115.17.

Agilysys Price Performance

NASDAQ AGYS opened at $102.69 on Tuesday. The stock’s fifty day moving average price is $75.95 and its 200 day moving average price is $98.98. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 128.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. Agilysys has a 1 year low of $63.71 and a 1 year high of $142.64.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, May 19th. The software maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.28. The company had revenue of $74.27 million for the quarter, compared to the consensus estimate of $71.43 million. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. As a group, equities research analysts forecast that Agilysys will post 0.8 earnings per share for the current year.

Insider Activity

In other news, Director John Mutch sold 750 shares of Agilysys stock in a transaction that occurred 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 sale, the director now owns 31,904 shares of the company’s stock, valued at approximately $2,403,328.32. The trade was a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.30% of the company’s stock.

Institutional Trading of Agilysys

Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Agilysys by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,405 shares of the software maker’s stock valued at $102,000 after purchasing an additional 141 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in 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 purchasing an additional 159 shares during the last quarter. Blue Trust Inc. increased its holdings in Agilysys by 18.9% in the 4th quarter. Blue Trust Inc. now owns 1,130 shares of the software maker’s stock valued at $149,000 after purchasing an additional 180 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Agilysys by 109.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock valued at $49,000 after purchasing an additional 193 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in Agilysys by 2.0% in the 4th quarter. Natixis Advisors LLC now owns 10,612 shares of the software maker’s stock valued at $1,398,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

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.