Agilysys, Inc. Forecasted to Earn Q3 2024 Earnings of $0.23 Per Share (NASDAQ:AGYS)

Agilysys, Inc. (NASDAQ:AGYS) – Equities researchers at Northland Capmk reduced their Q3 2024 earnings estimates for Agilysys in a research report issued on Thursday, November 16th. Northland Capmk analyst N. Chokshi now expects that the software maker will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.24. The consensus estimate for Agilysys’ current full-year earnings is $0.75 per share. Northland Capmk also issued estimates for Agilysys’ Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.70 EPS and FY2025 earnings at $0.97 EPS.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, October 23rd. The software maker reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Agilysys had a net margin of 6.46% and a return on equity of 23.72%. The business had revenue of $58.62 million during the quarter, compared to the consensus estimate of $56.80 million. During the same quarter last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 22.8% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the stock. Northland Securities cut their price target on shares of Agilysys from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Tuesday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $92.00 price target on shares of Agilysys in a report on Tuesday, October 24th. Oppenheimer cut their price target on shares of Agilysys from $105.00 to $85.00 and set an “outperform” rating on the stock in a report on Tuesday, July 25th. StockNews.com upgraded shares of Agilysys from a “hold” rating to a “buy” rating in a report on Tuesday, October 24th. Finally, TheStreet upgraded shares of Agilysys from a “c” rating to a “b-” rating in a report on Tuesday, October 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $88.40.

Agilysys Stock Performance

Shares of NASDAQ AGYS opened at $89.59 on Monday. Agilysys has a fifty-two week low of $60.59 and a fifty-two week high of $91.61. The company has a 50 day simple moving average of $74.93 and a two-hundred day simple moving average of $72.25. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 190.62 and a beta of 0.87.

Insider Buying and Selling

In related news, insider Chris J. Robertson sold 15,526 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $86.05, for a total value of $1,336,012.30. Following the sale, the insider now owns 25,673 shares in the company, valued at $2,209,161.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Agilysys news, insider Chris J. Robertson sold 15,526 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $86.05, for a total value of $1,336,012.30. Following the transaction, the insider now directly owns 25,673 shares in the company, valued at $2,209,161.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald A. Colvin sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $90.72, for a total transaction of $453,600.00. Following the completion of the transaction, the director now owns 29,624 shares in the company, valued at $2,687,489.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,012 shares of company stock worth $1,831,544. 23.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Agilysys by 1.6% during the 1st quarter. BlackRock Inc. now owns 3,157,975 shares of the software maker’s stock valued at $125,939,000 after purchasing an additional 50,734 shares during the period. Vanguard Group Inc. raised its position in shares of Agilysys by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,716,952 shares of the software maker’s stock valued at $95,034,000 after purchasing an additional 64,115 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Agilysys by 6.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,213,452 shares of the software maker’s stock valued at $80,282,000 after purchasing an additional 72,111 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Agilysys by 72.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 929,473 shares of the software maker’s stock valued at $73,559,000 after purchasing an additional 389,710 shares during the period. Finally, Fred Alger Management LLC raised its position in shares of Agilysys by 62.5% during the 1st quarter. Fred Alger Management LLC now owns 916,502 shares of the software maker’s stock valued at $75,621,000 after purchasing an additional 352,559 shares during the period. 97.65% 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.