Needham & Company LLC Reiterates Buy Rating for Agilysys (NASDAQ:AGYS)

Agilysys (NASDAQ:AGYS)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $125.00 target price on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 18.46% from the company’s previous close.

A number of other analysts have also commented on the stock. Oppenheimer upped their price objective on shares of Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. BTIG Research upped their price target on Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, July 19th. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Finally, William Blair assumed coverage on shares of Agilysys in a report on Monday, June 24th. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.60.

Agilysys Stock Down 1.2 %

Agilysys stock opened at $105.52 on Tuesday. Agilysys has a 52-week low of $63.78 and a 52-week high of $112.61. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 33.39 and a beta of 0.82. The firm has a 50-day moving average price of $100.39 and a two-hundred day moving average price of $88.19.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 13.73%. The firm had revenue of $63.50 million for the quarter, compared to analysts’ expectations of $64.52 million. During the same quarter last year, the company earned $0.18 EPS. Agilysys’s quarterly revenue was up 13.2% on a year-over-year basis. Research analysts expect that Agilysys will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ramesh Srinivasan sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $96.50, for a total transaction of $4,825,000.00. Following the sale, the chief executive officer now directly owns 988,367 shares in the company, valued at $95,377,415.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Kyle C. Badger sold 8,948 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $99.15, for a total value of $887,194.20. Following the sale, the senior vice president now owns 166,943 shares in the company, valued at approximately $16,552,398.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $4,825,000.00. Following the sale, the chief executive officer now directly owns 988,367 shares in the company, valued at $95,377,415.50. The disclosure for this sale can be found here. Insiders have sold 700,935 shares of company stock worth $67,375,071 in the last ninety days. Insiders own 23.60% of the company’s stock.

Institutional Trading of Agilysys

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Agilysys by 162.1% during 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 during the period. CWM LLC increased its stake in Agilysys by 390.2% in the second quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after purchasing an additional 199 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Agilysys by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the software maker’s stock worth $1,062,000 after purchasing an additional 200 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Agilysys by 6.2% in the 1st quarter. Lazard Asset Management LLC now owns 3,490 shares of the software maker’s stock valued at $294,000 after buying an additional 204 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in shares of Agilysys by 2.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 11,791 shares of the software maker’s stock valued at $1,000,000 after buying an additional 306 shares in the last quarter. 88.00% of the stock is owned by institutional investors.

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.