StockNews.com Begins Coverage on Agilysys (NASDAQ:AGYS)

StockNews.com assumed coverage on shares of Agilysys (NASDAQ:AGYS – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a buy rating on the software maker’s stock.

A number of other analysts have also weighed in on AGYS. BTIG Research increased their target price on Agilysys from $83.00 to $95.00 in a research note on Wednesday, January 25th. Craig Hallum raised their price target on Agilysys from $80.00 to $100.00 in a research note on Wednesday, January 25th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $87.33.

Agilysys Stock Down 3.3 %

Shares of AGYS opened at $76.66 on Thursday. The company has a market cap of $1.93 billion, a PE ratio of 186.98 and a beta of 0.94. The business has a fifty day moving average of $81.44 and a 200 day moving average of $68.32. Agilysys has a 52-week low of $31.49 and a 52-week high of $88.16.

Agilysys (NASDAQ:AGYS – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Agilysys had a return on equity of 25.07% and a net margin of 6.51%. The company had revenue of $49.92 million during the quarter, compared to the consensus estimate of $48.12 million. During the same period last year, the company earned $0.19 earnings per share. Agilysys’s revenue was up 26.5% on a year-over-year basis. As a group, research analysts anticipate that Agilysys will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Agilysys

In other news, insider Chris J. Robertson sold 5,000 shares of Agilysys stock in a transaction on Friday, January 27th. The shares were sold at an average price of $82.47, for a total transaction of $412,350.00. Following the completion of the sale, the insider now directly owns 20,998 shares in the company, valued at $1,731,705.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Chris J. Robertson sold 5,000 shares of the business’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $82.47, for a total transaction of $412,350.00. Following the sale, the insider now directly owns 20,998 shares of the company’s stock, valued at $1,731,705.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabuddha Biswas sold 8,747 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $82.84, for a total transaction of $724,601.48. Following the sale, the senior vice president now directly owns 74,040 shares in the company, valued at $6,133,473.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,671 shares of company stock worth $3,305,501. Insiders own 22.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp lifted its position in Agilysys by 41.6% during the fourth quarter. Truist Financial Corp now owns 7,753 shares of the software maker’s stock valued at $614,000 after purchasing an additional 2,279 shares during the period. Alliancebernstein L.P. raised its position in shares of Agilysys by 23.1% in the fourth quarter. Alliancebernstein L.P. now owns 28,230 shares of the software maker’s stock worth $2,234,000 after acquiring an additional 5,290 shares during the period. Financial Advocates Investment Management acquired a new position in shares of Agilysys in the fourth quarter worth about $247,000. IHT Wealth Management LLC acquired a new position in shares of Agilysys in the fourth quarter worth about $627,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Agilysys in the fourth quarter worth about $80,000. 97.78% of the stock is currently owned by institutional investors and hedge funds.

About Agilysys

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Agilysys, Inc operates as a technology company. It offers innovative software for point-of-sale, payment gateway, reservation and table management, guest offers management, property management, inventory and procurement, analytics, document management, and mobile and wireless solutions and services to the hospitality industry.