Agilysys (NASDAQ:AGYS) Rating Lowered to Hold at Zacks Research

Agilysys (NASDAQ:AGYS) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

AGYS has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Agilysys in a research report on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, October 8th. Wall Street Zen downgraded Agilysys from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Oppenheimer increased their price objective on Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $140.00 target price on shares of Agilysys in a research report on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Agilysys has an average rating of “Moderate Buy” and a consensus target price of $141.17.

Agilysys Trading Down 2.4%

Shares of NASDAQ AGYS opened at $119.45 on Monday. Agilysys has a 12-month low of $63.71 and a 12-month high of $145.25. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 138.90 and a beta of 0.42. The stock’s 50 day simple moving average is $124.00 and its 200 day simple moving average is $115.27.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Wednesday, June 5th. The software maker reported $0.21 EPS for the quarter. Agilysys had a return on equity of 11.22% and a net margin of 8.12%.The firm had revenue of $36.34 million during the quarter. As a group, equities analysts forecast that Agilysys will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Agilysys

In related news, Director Donald A. Colvin sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $123.28, for a total transaction of $739,680.00. Following the completion of the sale, the director directly owned 24,592 shares in the company, valued at approximately $3,031,701.76. This trade represents a 19.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris J. Robertson sold 500 shares of Agilysys stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $131.34, for a total transaction of $65,670.00. Following the completion of the transaction, the insider owned 687 shares in the company, valued at approximately $90,230.58. This trade represents a 42.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 15,576 shares of company stock worth $1,882,370. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Several large investors have recently modified their holdings of AGYS. William Blair Investment Management LLC acquired a new position in shares of Agilysys in the 2nd quarter worth $58,993,000. Wellington Management Group LLP boosted its position in shares of Agilysys by 75.9% in the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock valued at $72,675,000 after purchasing an additional 297,846 shares during the period. Goldman Sachs Group Inc. increased its stake in Agilysys by 125.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock worth $24,080,000 after purchasing an additional 184,402 shares in the last quarter. American Century Companies Inc. increased its stake in Agilysys by 38.7% in the 2nd quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock worth $71,955,000 after purchasing an additional 175,137 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Agilysys by 28.1% during the second quarter. Invesco Ltd. now owns 545,386 shares of the software maker’s stock valued at $62,523,000 after buying an additional 119,736 shares in the last quarter. 88.00% of the stock is owned by institutional investors.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.