Agilysys (NASDAQ:AGYS) Price Target Raised to $145.00 at Needham & Company LLC

Agilysys (NASDAQ:AGYS) had its price objective hoisted by Needham & Company LLC from $125.00 to $145.00 in a research note released on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

AGYS has been the subject of several other reports. 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, October 29th. Craig Hallum raised their price target on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com cut Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. BTIG Research lifted their price target on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Oppenheimer upped their price target on Agilysys from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Agilysys currently has a consensus rating of “Moderate Buy” and an average price target of $134.80.

Agilysys Stock Up 0.3 %

Agilysys stock traded up $0.35 during mid-day trading on Friday, hitting $121.19. 186,988 shares of the company’s stock were exchanged, compared to its average volume of 217,184. Agilysys has a 1-year low of $73.52 and a 1-year high of $128.61. The stock has a 50 day moving average of $109.68 and a two-hundred day moving average of $103.93. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.39 billion, a P/E ratio of 34.53 and a beta of 0.85.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The business had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, analysts anticipate that Agilysys will post 0.81 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the completion of the sale, the chief executive officer now owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris J. Robertson sold 264 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $26,627.04. Following the sale, the insider now owns 22,624 shares in the company, valued at approximately $2,281,856.64. This trade represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,023 shares of company stock worth $4,548,979. Company insiders own 19.30% of the company’s stock.

Institutional Trading of Agilysys

Several hedge funds have recently modified their holdings of the stock. 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 buying an additional 154 shares during the period. CWM LLC lifted its position in 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 purchasing an additional 199 shares during the period. Larson Financial Group LLC bought a new position in shares of Agilysys in the 2nd quarter valued at about $32,000. Advisors Asset Management Inc. grew its position in shares of Agilysys by 117.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock worth $37,000 after buying an additional 182 shares during the period. Finally, NBC Securities Inc. acquired a new position in Agilysys in the third quarter valued at approximately $46,000. 88.00% of the stock is owned by institutional investors.

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.