Agilysys (NASDAQ:AGYS) Releases Quarterly Earnings Results

Agilysys (NASDAQ:AGYS) posted its quarterly earnings data on Monday. The software maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04, Briefing.com reports. The business had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.54 million. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. Agilysys’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share.

Agilysys Stock Performance

AGYS traded down $4.13 on Wednesday, reaching $98.38. The company had a trading volume of 343,580 shares, compared to its average volume of 214,580. The business has a 50 day simple moving average of $109.04 and a 200 day simple moving average of $101.70. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 28.32 and a beta of 0.83. Agilysys has a 52-week low of $73.52 and a 52-week high of $125.73.

Wall Street Analyst Weigh In

Several equities research analysts have 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 report on Friday, July 19th. BTIG Research upped their price objective on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Agilysys in a report on Tuesday. Northland Securities reaffirmed an “outperform” rating and set a $145.00 price objective (up from $132.00) on shares of Agilysys in a report on Tuesday. Finally, Craig Hallum increased their price target on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $127.80.

Insider Activity at Agilysys

In related news, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total value of $113,690.00. Following the sale, the director now directly owns 36,326 shares of the company’s stock, valued at $4,129,902.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Agilysys news, Director John Mutch sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the transaction, the director now directly owns 36,326 shares in the company, valued at $4,129,902.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris J. Robertson sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total transaction of $435,320.00. Following the transaction, the insider now owns 22,888 shares in the company, valued at $2,490,901.04. The trade was 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 valued at $3,734,810 over the last three months. 19.30% of the stock is owned by corporate insiders.

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.