Agilysys (NASDAQ:AGYS) Shares Down 4.3%

Agilysys, Inc. (NASDAQ:AGYS) fell 4.3% during trading on Wednesday . The company traded as low as $99.25 and last traded at $100.20. 21,266 shares traded hands during trading, a decline of 90% from the average session volume of 214,620 shares. The stock had previously closed at $104.67.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AGYS. William Blair initiated coverage on shares of Agilysys in a research report on Monday, June 24th. They issued an “outperform” rating for the company. StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Needham & Company LLC upped their price objective on Agilysys from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer boosted their target price on shares of Agilysys from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Agilysys has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Agilysys Price Performance

The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 33.12 and a beta of 0.82. The firm has a fifty day simple moving average of $94.70 and a two-hundred day simple moving average of $86.21.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, May 13th. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $62.22 million during the quarter, compared to analysts’ expectations of $61.95 million. Agilysys had a net margin of 36.30% and a return on equity of 15.52%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company posted $0.26 earnings per share. Equities analysts anticipate that Agilysys, Inc. will post 0.69 earnings per share for the current fiscal year.

Insider Transactions at Agilysys

In other Agilysys news, CEO Ramesh Srinivasan sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $96.50, for a total transaction of $4,825,000.00. Following the completion of the transaction, the chief executive officer now directly owns 988,367 shares of the company’s stock, valued at approximately $95,377,415.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Ramesh Srinivasan sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $96.50, for a total value of $4,825,000.00. Following the sale, the chief executive officer now owns 988,367 shares in the company, valued at $95,377,415.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry C. Jones sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $102.89, for a total value of $1,028,900.00. Following the completion of the transaction, the director now directly owns 40,982 shares of the company’s stock, valued at $4,216,637.98. The disclosure for this sale can be found here. Insiders sold a total of 700,935 shares of company stock worth $67,375,071 over the last three months. 23.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Agilysys by 162.1% in the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. CWM LLC lifted its position in shares of Agilysys by 390.2% during the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after buying an additional 199 shares in the last quarter. RiverPark Advisors LLC grew its stake in Agilysys by 53.2% in the 4th quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $32,000 after acquiring an additional 133 shares during the period. YHB Investment Advisors Inc. purchased a new stake in Agilysys in the 1st quarter worth $35,000. Finally, Pacer Advisors Inc. raised its position in Agilysys by 247.6% during the fourth quarter. Pacer Advisors Inc. now owns 511 shares of the software maker’s stock worth $43,000 after acquiring an additional 364 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.