Needham & Company LLC Raises Agilysys (NASDAQ:AGYS) Price Target to $105.00

Agilysys (NASDAQ:AGYS) had its price target hoisted by equities researchers at Needham & Company LLC from $100.00 to $105.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s target price would suggest a potential upside of 4.80% from the stock’s current price.

Several other research analysts have also recently weighed in on AGYS. UBS Group set a $100.00 price target on Agilysys in a research note on Wednesday, March 5th. Oppenheimer decreased their price objective on shares of Agilysys from $135.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Craig Hallum lowered their price objective on shares of 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.83.

Agilysys Trading Down 1.2%

NASDAQ AGYS opened at $100.19 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $75.40 and its two-hundred day simple moving average is $98.98. Agilysys has a twelve month low of $63.71 and a twelve month high of $142.64. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 125.24 and a beta of 0.58.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Monday, May 19th. 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 company had revenue of $74.27 million for the quarter, compared to analysts’ expectations of $71.43 million. During the same period last year, the firm earned $0.32 earnings per share. Agilysys’s quarterly revenue was up 19.4% on a year-over-year basis. Research analysts forecast that Agilysys will post 0.8 EPS for the current fiscal year.

Insider Transactions at Agilysys

In other Agilysys news, Director John Mutch sold 2,000 shares of Agilysys stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $77.87, for a total transaction of $155,740.00. Following the transaction, the director now owns 32,654 shares of the company’s stock, valued at $2,542,766.98. The trade was a 5.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Several large investors have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of Agilysys by 105.2% during the third quarter. Barclays PLC now owns 50,572 shares of the software maker’s stock valued at $5,512,000 after buying an additional 25,926 shares during the period. Harbor Investment Advisory LLC increased its position in shares of Agilysys by 109.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock worth $49,000 after acquiring an additional 193 shares during the period. SG Americas Securities LLC raised its stake in shares of Agilysys by 320.5% during the fourth quarter. SG Americas Securities LLC now owns 4,192 shares of the software maker’s stock valued at $552,000 after acquiring an additional 3,195 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Agilysys by 21.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 3,065 shares of the software maker’s stock valued at $404,000 after purchasing an additional 535 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Agilysys by 18.9% during the fourth 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 in the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

About Agilysys

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.