Agilysys (NASDAQ:AGYS) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Agilysys (NASDAQ:AGYS) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a $125.00 target price on the software maker’s stock.

Several other equities analysts also recently weighed in on AGYS. Oppenheimer lifted their target price on shares of Agilysys from $100.00 to $120.00 and gave the stock an outperform rating in a research note on Friday, July 19th. BTIG Research boosted their price objective on shares of Agilysys from $95.00 to $118.00 and gave the company a buy rating in a research note on Friday, July 19th. StockNews.com cut shares of Agilysys from a buy rating to a hold rating in a research note on Thursday, July 4th. Finally, William Blair initiated coverage on shares of Agilysys in a research note on Monday, June 24th. They set an outperform rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $122.00.

Agilysys Stock Up 2.4 %

AGYS opened at $110.70 on Tuesday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 35.03 and a beta of 0.82. The firm has a 50-day moving average price of $100.79 and a 200-day moving average price of $88.55. Agilysys has a twelve month low of $63.78 and a twelve month high of $112.61.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $63.50 million during the quarter, compared to the consensus estimate of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. On average, sell-side analysts expect that Agilysys will post 0.69 earnings per share for the current fiscal year.

Insider Activity at Agilysys

In other Agilysys news, CEO Ramesh Srinivasan sold 50,000 shares of Agilysys stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $96.50, for a total transaction of $4,825,000.00. Following the completion of the sale, the chief executive officer now directly owns 988,367 shares in the company, valued at $95,377,415.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Agilysys news, CEO Ramesh Srinivasan sold 50,000 shares of Agilysys stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $96.50, for a total transaction of $4,825,000.00. Following the completion of the sale, the chief executive officer now directly owns 988,367 shares in the company, valued at $95,377,415.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mak Capital One Llc sold 38,539 shares of Agilysys stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $90.85, for a total transaction of $3,501,268.15. Following the sale, the director now owns 1,449,136 shares of the company’s stock, valued at $131,654,005.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,935 shares of company stock valued at $67,375,071. Corporate insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Hedge funds have recently made changes to their positions in the business. Semanteon Capital Management LP bought a new stake in shares of Agilysys in the 4th quarter worth approximately $1,195,000. Axiom Investors LLC DE lifted its holdings in shares of Agilysys by 421.7% in the 4th quarter. Axiom Investors LLC DE now owns 58,040 shares of the software maker’s stock worth $4,923,000 after acquiring an additional 46,915 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Agilysys by 13.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after acquiring an additional 87,549 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Agilysys by 10.6% in the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock worth $57,805,000 after acquiring an additional 65,672 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Agilysys by 91.6% in the 1st quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock worth $2,797,000 after acquiring an additional 15,870 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors.

About Agilysys

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, activity scheduling, reservations management, and related solutions to enhance guest experience.