Agilysys (NASDAQ:AGYS) Reaches New 1-Year High After Analyst Upgrade

Agilysys, Inc. (NASDAQ:AGYS)’s stock price hit a new 52-week high during trading on Wednesday after Needham & Company LLC raised their price target on the stock from $130.00 to $140.00. Needham & Company LLC currently has a buy rating on the stock. Agilysys traded as high as $145.25 and last traded at $141.12, with a volume of 1261658 shares trading hands. The stock had previously closed at $115.14.

Several other research firms have also recently weighed in on AGYS. Weiss Ratings restated a “hold (c)” rating on shares of Agilysys in a report on Wednesday, October 8th. Zacks Research raised shares of Agilysys from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Oppenheimer upped their price target on shares of Agilysys from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.67.

Insider Buying and Selling

In other Agilysys news, CFO William David Wood III sold 6,000 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $115.55, for a total transaction of $693,300.00. Following the sale, the chief financial officer owned 41,288 shares of the company’s stock, valued at approximately $4,770,828.40. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AGYS. Global Retirement Partners LLC boosted its position in shares of Agilysys by 118.5% during the 3rd quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock valued at $27,000 after purchasing an additional 141 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Agilysys during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC increased its stake in shares of Agilysys by 43.2% in the 2nd quarter. GAMMA Investing LLC now owns 305 shares of the software maker’s stock valued at $35,000 after acquiring an additional 92 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Agilysys by 215.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock valued at $39,000 after acquiring an additional 250 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Agilysys during the 3rd quarter valued at $52,000. 88.00% of the stock is owned by institutional investors and hedge funds.

Agilysys Stock Down 5.4%

The firm has a market capitalization of $3.74 billion, a P/E ratio of 155.15 and a beta of 0.61. The company’s 50 day moving average is $109.68 and its 200-day moving average is $104.30.

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

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.