Agilysys (NASDAQ:AGYS) Shares Gap Up After Better-Than-Expected Earnings

Agilysys, Inc. (NASDAQ:AGYS)’s share price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $115.14, but opened at $130.00. Agilysys shares last traded at $141.1550, with a volume of 192,220 shares.

The software maker reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $36.34 million for the quarter. Agilysys had a return on equity of 11.52% and a net margin of 8.12%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AGYS shares. Zacks Research upgraded shares of Agilysys from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $140.00 price target on shares of Agilysys in a report on Tuesday. Oppenheimer reiterated an “outperform” rating on shares of Agilysys in a research note on Tuesday. Finally, Needham & Company LLC increased their price objective on Agilysys from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agilysys has an average rating of “Moderate Buy” and a consensus price target of $138.67.

Institutional Trading of Agilysys

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Agilysys by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,228,018 shares of the software maker’s stock valued at $161,620,000 after purchasing an additional 18,744 shares in the last quarter. Nuveen LLC bought a new position in shares of Agilysys in the 1st quarter worth $80,730,000. Wasatch Advisors LP raised its position in shares of Agilysys by 5.3% during the 2nd quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock valued at $115,204,000 after buying an additional 50,536 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Agilysys by 6.7% during the 2nd quarter. Geneva Capital Management LLC now owns 816,637 shares of the software maker’s stock worth $93,619,000 after acquiring an additional 51,274 shares during the last quarter. Finally, Brown Capital Management LLC grew its position in Agilysys by 0.3% in the second quarter. Brown Capital Management LLC now owns 645,183 shares of the software maker’s stock worth $73,964,000 after acquiring an additional 1,854 shares in the last quarter. Institutional investors own 88.00% of the company’s stock.

Agilysys Trading Up 22.6%

The stock has a 50 day moving average of $109.14 and a 200 day moving average of $103.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.11 and a quick ratio of 1.04. The firm has a market cap of $3.96 billion, a P/E ratio of 164.09 and a beta of 0.61.

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.