Oppenheimer Has Lowered Expectations for Agilysys (NASDAQ:AGYS) Stock Price

Agilysys (NASDAQ:AGYS) had its target price cut by investment analysts at Oppenheimer from $140.00 to $90.00 in a report released on Thursday, Marketbeat reports. The firm currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price target would indicate a potential upside of 44.72% from the stock’s current price.

A number of other equities analysts also recently weighed in on AGYS. BTIG Research started coverage on shares of Agilysys in a research note on Tuesday, December 16th. They set a “neutral” rating for the company. Needham & Company LLC decreased their price target on Agilysys from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a research report on Wednesday, January 21st. Zacks Research upgraded Agilysys from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen cut Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.40.

Agilysys Stock Down 1.9%

Shares of Agilysys stock opened at $62.19 on Thursday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 58.12 and a beta of 0.43. Agilysys has a twelve month low of $61.50 and a twelve month high of $145.25. The company’s fifty day moving average is $74.98 and its 200 day moving average is $102.29.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share (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 company had revenue of $80.39 million for the quarter, compared to the consensus estimate of $79.07 million. During the same period in the prior year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities analysts anticipate that Agilysys will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Agilysys

In related news, Director Melvin L. Keating purchased 300 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were acquired at an average cost of $83.62 per share, with a total value of $25,086.00. Following the purchase, the director directly 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders bought 1,000 shares of company stock valued at $77,669. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AGYS. Advisors Asset Management Inc. boosted its holdings in Agilysys by 30.1% in the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock worth $50,000 after purchasing an additional 159 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Agilysys by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock worth $972,000 after purchasing an additional 569 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Agilysys by 125.0% in the first quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock worth $24,080,000 after purchasing an additional 184,402 shares in the last quarter. Jane Street Group LLC raised its position in shares of Agilysys by 1,025.2% during the 1st quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock valued at $2,738,000 after purchasing an additional 34,395 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of Agilysys during the 2nd quarter valued at $231,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

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.