Agilysys (NASDAQ:AGYS) Shares Gap Up After Analyst Upgrade

Shares of Agilysys, Inc. (NASDAQ:AGYS) gapped up before the market opened on Tuesday after BTIG Research raised their price target on the stock from $118.00 to $124.00. The stock had previously closed at $111.49, but opened at $119.83. BTIG Research currently has a buy rating on the stock. Agilysys shares last traded at $106.11, with a volume of 30,417 shares trading hands.

Several other research firms have also issued reports on AGYS. Oppenheimer lifted their price target on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. StockNews.com upgraded shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Craig Hallum boosted their price objective on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price on shares of Agilysys in a research note on Monday, September 16th. Finally, Northland Securities upped their price target on Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Agilysys currently has a consensus rating of “Buy” and an average price target of $127.80.

Insider Activity

In related news, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the sale, the chief executive officer now owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $113.69, for a total value of $113,690.00. Following the completion of the sale, the director now owns 36,326 shares in the company, valued at approximately $4,129,902.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the completion of the sale, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $3,734,810 over the last ninety days. Corporate insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after purchasing an additional 217,008 shares during the last quarter. Fred Alger Management LLC increased its position in shares of Agilysys by 1.9% during the second quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock worth $97,689,000 after acquiring an additional 17,898 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of Agilysys by 13.8% in the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after purchasing an additional 87,549 shares during the period. Geneva Capital Management LLC increased its holdings in Agilysys by 10.6% during the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock worth $57,805,000 after purchasing an additional 65,672 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Agilysys by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock valued at $33,970,000 after purchasing an additional 20,703 shares in the last quarter. 88.00% of the stock is owned by institutional investors.

Agilysys Stock Performance

The firm has a market capitalization of $2.85 billion, a PE ratio of 29.31 and a beta of 0.83. The company has a fifty day simple moving average of $109.17 and a two-hundred day simple moving average of $101.56.

About Agilysys

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.