Craig Hallum Lowers Agilysys (NASDAQ:AGYS) Price Target to $120.00

Agilysys (NASDAQ:AGYS) had its price objective reduced by equities researchers at Craig Hallum from $125.00 to $120.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s target price would indicate a potential downside of 4.69% from the stock’s current price.

A number of other analysts also recently commented on the company. BTIG Research raised their price objective on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Northland Securities raised their target price on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Oppenheimer lowered their price target on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC lowered their target price on shares of Agilysys from $145.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Agilysys presently has an average rating of “Moderate Buy” and an average target price of $138.00.

Agilysys Trading Up 3.4 %

Shares of AGYS stock opened at $125.90 on Wednesday. The firm has a market capitalization of $3.52 billion, a P/E ratio of 35.87 and a beta of 0.94. Agilysys has a 1 year low of $74.03 and a 1 year high of $142.64. The firm’s fifty day simple moving average is $131.80 and its 200 day simple moving average is $116.74. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The company had revenue of $69.60 million for the quarter, compared to the consensus estimate of $73,149.20 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts predict that Agilysys will post 0.81 EPS for the current year.

Insider Buying and Selling

In other news, Director Melvin L. Keating sold 1,920 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $117.55, for a total value of $225,696.00. Following the completion of the sale, the director now directly owns 39,587 shares in the company, valued at approximately $4,653,451.85. This trade represents a 4.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO William David Wood III sold 588 shares of Agilysys stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $59,305.68. Following the completion of the transaction, the chief financial officer now directly owns 49,479 shares of the company’s stock, valued at $4,990,451.94. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,122 shares of company stock worth $9,002,291 in the last quarter. 19.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Agilysys

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its stake in shares of Agilysys by 117.4% during the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Agilysys by 66.7% during the 3rd quarter. GAMMA Investing LLC now owns 415 shares of the software maker’s stock worth $45,000 after buying an additional 166 shares in the last quarter. NBC Securities Inc. bought a new position in Agilysys in the 3rd quarter valued at $46,000. Harbor Investment Advisory LLC increased its stake in shares of Agilysys by 109.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock valued at $49,000 after buying an additional 193 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Agilysys by 76.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock valued at $52,000 after buying an additional 205 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.

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.