Agilysys (NASDAQ:AGYS) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Agilysys, Inc. (NASDAQ:AGYS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $115.59 and traded as high as $119.20. Agilysys shares last traded at $119.02, with a volume of 94,480 shares changing hands.

Analysts Set New Price Targets

Several brokerages have issued reports on AGYS. Cantor Fitzgerald reissued an “overweight” rating and set a $140.00 price objective on shares of Agilysys in a research report on Tuesday, October 28th. Oppenheimer increased their target price on shares of Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Wall Street Zen lowered Agilysys from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. UBS Group reaffirmed a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Finally, BTIG Research began coverage on Agilysys in a research report on Tuesday, December 16th. They set a “neutral” rating for the company. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Agilysys currently has an average rating of “Moderate Buy” and an average price target of $141.17.

Agilysys Stock Performance

The company has a market capitalization of $3.34 billion, a PE ratio of 138.40 and a beta of 0.43. The firm’s 50-day simple moving average is $123.39 and its 200 day simple moving average is $115.59.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Wednesday, June 5th. The software maker reported $0.21 earnings per share (EPS) for the quarter. Agilysys had a net margin of 8.12% and a return on equity of 11.22%. The business had revenue of $36.34 million during the quarter. As a group, equities analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Donald A. Colvin sold 6,000 shares of Agilysys stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $123.28, for a total transaction of $739,680.00. Following the completion of the sale, the director directly owned 24,592 shares in the company, valued at approximately $3,031,701.76. This trade represents a 19.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William David Wood III sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $115.55, for a total value of $693,300.00. Following the completion of the sale, the chief financial officer owned 41,288 shares in the company, valued at approximately $4,770,828.40. This represents a 12.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,576 shares of company stock valued at $1,882,370 in the last 90 days. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Agilysys by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,375,895 shares of the software maker’s stock worth $250,063,000 after buying an additional 76,886 shares during the last quarter. Wasatch Advisors LP increased its holdings in 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 acquiring an additional 50,536 shares in the last quarter. Geneva Capital Management LLC raised its position in Agilysys by 6.7% during the second 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. Wellington Management Group LLP raised its position in Agilysys by 75.9% during the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock worth $72,675,000 after acquiring an additional 297,846 shares during the last quarter. Finally, Brown Capital Management LLC lifted its holdings in shares of Agilysys by 0.3% in the second quarter. Brown Capital Management LLC now owns 645,183 shares of the software maker’s stock valued at $73,964,000 after purchasing an additional 1,854 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.