Agilysys (NASDAQ:AGYS) Given New $120.00 Price Target at Needham & Company LLC

Agilysys (NASDAQ:AGYS) had its price objective trimmed by Needham & Company LLC from $140.00 to $120.00 in a report released on Tuesday, MarketBeat reports. The brokerage currently has a buy rating on the software maker’s stock.

Other analysts have also issued reports about the stock. BTIG Research assumed coverage on shares of Agilysys in a research note on Tuesday, December 16th. They issued a “neutral” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Agilysys in a research report on Wednesday, January 21st. Zacks Research downgraded shares of Agilysys from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 28th. Oppenheimer increased their price target on Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of Agilysys in a report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $141.40.

Agilysys Price Performance

AGYS stock opened at $80.19 on Tuesday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 74.94 and a beta of 0.41. Agilysys has a 1-year low of $63.71 and a 1-year high of $145.25. The business has a fifty day moving average price of $107.32 and a 200-day moving average price of $112.02.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The business had revenue of $80.39 million during the quarter, compared to the consensus estimate of $79.07 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. Agilysys’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, analysts anticipate that Agilysys will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Agilysys

In related news, Director Melvin L. Keating purchased 300 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was acquired at an average price of $83.62 per share, with a total value of $25,086.00. Following the completion of the acquisition, the director owned 35,007 shares of the company’s stock, valued at approximately $2,927,285.34. This trade represents a 0.86% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Donald A. Colvin sold 6,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $123.28, for a total value of $739,680.00. Following the completion of the sale, the director owned 24,592 shares of the company’s stock, valued at approximately $3,031,701.76. The trade was a 19.61% decrease in their position. The SEC filing for this sale provides additional information. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agilysys

Several large investors have recently added to or reduced their stakes in AGYS. Principal Financial Group Inc. grew its holdings in shares of Agilysys by 14.6% in the third quarter. Principal Financial Group Inc. now owns 461,482 shares of the software maker’s stock valued at $48,571,000 after purchasing an additional 58,691 shares in the last quarter. American Century Companies Inc. raised its stake in Agilysys by 38.7% during the second quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock valued at $71,955,000 after purchasing an additional 175,137 shares in the last quarter. Geode Capital Management LLC lifted its position in Agilysys by 8.0% during the second quarter. Geode Capital Management LLC now owns 607,664 shares of the software maker’s stock valued at $69,670,000 after purchasing an additional 45,037 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Agilysys by 9.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 629,891 shares of the software maker’s stock worth $72,211,000 after buying an additional 53,360 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Agilysys by 23.9% in the 2nd quarter. Franklin Resources Inc. now owns 379,587 shares of the software maker’s stock worth $43,516,000 after buying an additional 73,220 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

About Agilysys

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.