Oppenheimer Issues Positive Forecast for Agilysys (NASDAQ:AGYS) Stock Price

Agilysys (NASDAQ:AGYS) had its price objective lifted by Oppenheimer from $120.00 to $135.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

A number of other equities research analysts have also recently issued reports on AGYS. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a research note on Tuesday, October 29th. BTIG Research upped their price objective on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Craig Hallum upped their price objective on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Northland Securities reiterated an “outperform” rating and set a $145.00 price objective (up previously from $132.00) on shares of Agilysys in a research note on Tuesday, October 29th. Finally, StockNews.com cut Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.80.

Agilysys Trading Up 0.3 %

NASDAQ:AGYS opened at $121.19 on Tuesday. Agilysys has a twelve month low of $73.52 and a twelve month high of $128.61. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $109.68 and a two-hundred day moving average price of $103.93. The company 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 released its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping 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 firm had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The business’s revenue was up 16.6% on a year-over-year basis. As a group, analysts expect that Agilysys will post 0.81 EPS for the current fiscal year.

Insider Transactions at Agilysys

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the completion of the transaction, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William David Wood III sold 588 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $59,305.68. Following the transaction, the chief financial officer now owns 49,479 shares of the company’s stock, valued at $4,990,451.94. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,023 shares of company stock worth $4,548,979 over the last ninety days. 19.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Agilysys

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Agilysys by 12.3% in the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after purchasing an additional 217,008 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Agilysys by 13.8% in the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after purchasing an additional 87,549 shares in the last quarter. SG Americas Securities LLC bought a new stake in Agilysys in the second quarter worth approximately $1,847,000. UniSuper Management Pty Ltd acquired a new stake in Agilysys in the first quarter valued at approximately $388,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Agilysys by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock valued at $33,970,000 after acquiring an additional 20,703 shares during the period. 88.00% of the stock is currently owned by institutional investors.

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.