Agilysys (NASDAQ:AGYS) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Posted by Matthew Steigler on Jan 25th, 2023

Agilysys (NASDAQ:AGYS – Get Rating) issued its quarterly earnings data on Tuesday. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02, Briefing.com reports. The firm had revenue of $49.92 million for the quarter, compared to analyst estimates of $48.12 million. Agilysys had a return on equity of 24.56% and a net margin of 5.59%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. Agilysys updated its FY 2023 guidance to EPS.

Agilysys Stock Performance

Shares of NASDAQ AGYS traded down $5.34 during mid-day trading on Wednesday, hitting $76.55. 59,830 shares of the stock traded hands, compared to its average volume of 154,664. Agilysys has a 52 week low of $31.49 and a 52 week high of $84.13. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 231.26 and a beta of 0.92. The stock has a fifty day moving average price of $72.80 and a 200-day moving average price of $60.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AGYS shares. Craig Hallum lifted their price objective on Agilysys from $80.00 to $100.00 in a research report on Wednesday. BTIG Research lifted their price objective on Agilysys from $83.00 to $95.00 in a research report on Wednesday. Finally, StockNews.com started coverage on Agilysys in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $79.75.

Insider Activity at Agilysys

In related news, SVP Prabuddha Biswas sold 1,000 shares of Agilysys stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $64.52, for a total transaction of $64,520.00. Following the sale, the senior vice president now directly owns 73,965 shares in the company, valued at $4,772,221.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 22.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Agilysys

Several hedge funds have recently made changes to their positions in AGYS. Wasatch Advisors Inc. raised its stake in Agilysys by 34.3% during the first quarter. Wasatch Advisors Inc. now owns 496,755 shares of the software maker’s stock valued at $19,811,000 after buying an additional 126,969 shares during the last quarter. Vanguard Group Inc. raised its stake in Agilysys by 3.9% during the third quarter. Vanguard Group Inc. now owns 1,716,952 shares of the software maker’s stock valued at $95,034,000 after buying an additional 64,115 shares during the last quarter. Northern Trust Corp raised its stake in Agilysys by 11.7% during the first quarter. Northern Trust Corp now owns 487,282 shares of the software maker’s stock valued at $19,433,000 after buying an additional 51,034 shares during the last quarter. BlackRock Inc. raised its stake in Agilysys by 1.6% during the first quarter. BlackRock Inc. now owns 3,157,975 shares of the software maker’s stock valued at $125,939,000 after buying an additional 50,734 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Agilysys during the second quarter valued at $2,302,000. 97.78% of the stock is currently owned by institutional investors.

About Agilysys

(Get Rating)

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, reservations management, and seat solutions to enhance guest experience.