Agilysys (NASDAQ:AGYS) Stock Rating Upgraded by Zacks Research

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

A number of other analysts have also weighed in on the stock. Oppenheimer increased their price objective on shares of Agilysys from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Piper Sandler began coverage on shares of Agilysys in a research note on Tuesday. They issued an “overweight” rating and a $110.00 target price on the stock. UBS Group set a $110.00 target price on shares of Agilysys in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Agilysys in a research note on Tuesday, May 19th. Finally, Weiss Ratings downgraded shares of Agilysys from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Agilysys has a consensus rating of “Moderate Buy” and an average target price of $116.00.

Agilysys Price Performance

Agilysys stock opened at $89.42 on Wednesday. Agilysys has a 1-year low of $61.50 and a 1-year high of $145.25. The firm has a market capitalization of $2.52 billion, a P/E ratio of 65.75 and a beta of 0.41. The company’s 50-day moving average is $72.17 and its 200 day moving average is $91.00.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, May 18th. The software maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. Agilysys had a net margin of 12.15% and a return on equity of 11.07%. The company had revenue of $82.95 million for the quarter, compared to analyst estimates of $81.56 million. During the same period in the prior year, the company posted $0.54 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts anticipate that Agilysys will post 1.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agilysys

A number of hedge funds and other institutional investors have recently modified their holdings of AGYS. Advisors Asset Management Inc. boosted its stake in shares of Agilysys by 30.1% during the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after purchasing an additional 159 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Agilysys by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock valued at $972,000 after purchasing an additional 569 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Agilysys by 125.0% during the first quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock valued at $24,080,000 after purchasing an additional 184,402 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Agilysys by 1,025.2% during the first quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock valued at $2,738,000 after purchasing an additional 34,395 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Agilysys during the second quarter valued at approximately $231,000. 88.00% of the stock is currently 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.