BidaskClub Lowers Agilysys (AGYS) to Sell

Agilysys (NASDAQ:AGYS) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Shares of Agilysys (NASDAQ AGYS) traded down $0.44 during midday trading on Friday, reaching $12.41. 26,001 shares of the company were exchanged, compared to its average volume of 50,238. Agilysys has a 52 week low of $8.60 and a 52 week high of $13.00. The stock has a market cap of $278.08, a price-to-earnings ratio of -21.03 and a beta of 0.39.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Wednesday, November 1st. The software maker reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Agilysys had a negative return on equity of 12.02% and a negative net margin of 10.66%. The firm had revenue of $30.13 million during the quarter. During the same period in the prior year, the firm posted ($0.11) EPS.

In other news, CEO Ramesh Srinivasan acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $11.77 per share, for a total transaction of $588,500.00. Following the acquisition, the chief executive officer now directly owns 35,000 shares in the company, valued at $411,950. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 34.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Agilysys in the 4th quarter worth approximately $167,000. Algert Global LLC purchased a new stake in Agilysys during the 3rd quarter valued at $470,000. 22NW LP purchased a new stake in Agilysys during the 3rd quarter valued at $1,821,000. OxFORD Asset Management LLP purchased a new stake in Agilysys during the 3rd quarter valued at $154,000. Finally, Archon Capital Management LLC raised its stake in Agilysys by 12.5% during the 3rd quarter. Archon Capital Management LLC now owns 1,180,204 shares of the software maker’s stock valued at $14,103,000 after buying an additional 131,057 shares during the last quarter. Institutional investors own 83.61% of the company’s stock.

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Agilysys Company Profile

Agilysys, Inc is a technology company. The Company provides software for point-of-sale (POS), property management, inventory and procurement, workforce management, analytics, document management, and mobile and wireless solutions and services to the hospitality industry. The Company serves four market sectors: gaming, both corporate and tribal; hotels, resorts and cruise; foodservice management, and restaurants, universities, stadia and healthcare.

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