Needham & Company LLC Forecasts Strong Price Appreciation for Agilysys (NASDAQ:AGYS) Stock

Agilysys (NASDAQ:AGYS) had its price objective raised by Needham & Company LLC from $100.00 to $105.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

AGYS has been the subject of a number of other reports. UBS Group set a $100.00 price objective on Agilysys in a research report on Wednesday, March 5th. Oppenheimer decreased their price target on Agilysys from $135.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Craig Hallum lowered their price objective on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Agilysys currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.83.

Agilysys Stock Up 22.1%

Shares of NASDAQ:AGYS opened at $101.37 on Tuesday. Agilysys has a 1-year low of $63.71 and a 1-year high of $142.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. The stock has a market cap of $2.83 billion, a P/E ratio of 126.71 and a beta of 0.58. The firm has a fifty day moving average price of $74.88 and a 200 day moving average price of $98.97.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, May 19th. The software maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.28. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The business had revenue of $74.27 million during the quarter, compared to the consensus estimate of $71.43 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. Sell-side analysts predict that Agilysys will post 0.8 EPS for the current year.

Insider Buying and Selling at Agilysys

In other news, Director John Mutch sold 750 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $75.33, for a total value of $56,497.50. Following the completion of the transaction, the director now owns 31,904 shares in the company, valued at $2,403,328.32. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.30% of the stock is owned by corporate insiders.

Institutional Trading of Agilysys

A number of institutional investors have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC increased its holdings in Agilysys by 19.1% in the fourth quarter. Synergy Asset Management LLC now owns 86,080 shares of the software maker’s stock valued at $11,157,000 after buying an additional 13,785 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Agilysys by 381.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock worth $57,000 after acquiring an additional 336 shares during the period. Atria Investments Inc acquired a new stake in shares of Agilysys in the 4th quarter worth approximately $315,000. Shaker Investments LLC OH acquired a new stake in shares of Agilysys in the 4th quarter worth approximately $1,084,000. Finally, Conestoga Capital Advisors LLC increased its stake in Agilysys by 25.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 356,239 shares of the software maker’s stock valued at $46,920,000 after purchasing an additional 71,168 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Company Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.