Agilysys (NASDAQ:AGYS) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Agilysys (NASDAQ:AGYS) in a report issued on Tuesday morning, Benzinga reports. They currently have a $125.00 price objective on the software maker’s stock.

Other analysts also recently issued research reports about the company. Oppenheimer lifted their price objective on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. BTIG Research upped their price target on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday. Northland Securities lifted their price objective on shares of Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. StockNews.com upgraded shares of Agilysys from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Craig Hallum lifted their price target on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Agilysys presently has an average rating of “Buy” and an average target price of $127.80.

Agilysys Trading Down 8.1 %

Shares of AGYS stock opened at $102.51 on Tuesday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 28.32 and a beta of 0.83. Agilysys has a 12-month low of $73.52 and a 12-month high of $125.73. The stock’s 50-day moving average price is $109.17 and its 200-day moving average price is $101.56.

Insider Buying and Selling

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the sale, the chief executive officer now directly owns 738,367 shares of the company’s stock, valued at $75,335,585.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $102.03, for a total value of $1,020,300.00. Following the sale, the chief executive officer now directly owns 738,367 shares in the company, valued at approximately $75,335,585.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris J. Robertson sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total value of $435,320.00. Following the transaction, the insider now owns 22,888 shares of the company’s stock, valued at approximately $2,490,901.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,000 shares of company stock valued at $3,734,810. Company insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AGYS. Conestoga Capital Advisors LLC boosted its position in Agilysys by 79.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 285,071 shares of the software maker’s stock valued at $31,064,000 after buying an additional 126,193 shares during the period. Oak Ridge Investments LLC bought a new stake in shares of Agilysys during the third quarter valued at approximately $3,112,000. US Bancorp DE boosted its holdings in shares of Agilysys by 11.2% in the third quarter. US Bancorp DE now owns 1,216 shares of the software maker’s stock valued at $133,000 after purchasing an additional 122 shares during the period. State of Alaska Department of Revenue grew its stake in Agilysys by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 12,718 shares of the software maker’s stock worth $1,385,000 after purchasing an additional 862 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Agilysys by 5.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the software maker’s stock worth $1,177,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 88.00% of the company’s stock.

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.