Agilysys (NASDAQ:AGYS) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a buy rating in a report issued on Tuesday morning.

Separately, Needham & Company LLC raised their price target on Agilysys from $92.00 to $100.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Agilysys presently has a consensus rating of Buy and a consensus price target of $88.75.

Agilysys Trading Up 1.5 %

NASDAQ:AGYS opened at $80.69 on Tuesday. The firm has a market capitalization of $2.21 billion, a PE ratio of 25.29 and a beta of 0.68. Agilysys has a 1 year low of $62.00 and a 1 year high of $91.61. The firm’s fifty day simple moving average is $80.57 and its 200 day simple moving average is $82.74.

Insiders Place Their Bets

In other news, major shareholder Mak Capital One Llc sold 867,729 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $82.59, for a total transaction of $71,665,738.11. Following the completion of the transaction, the insider now owns 2,060,458 shares of the company’s stock, valued at $170,173,226.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Semanteon Capital Management LP bought a new stake in Agilysys in the 4th quarter valued at $1,195,000. Wellington Management Group LLP raised its position in Agilysys by 159.4% in the third quarter. Wellington Management Group LLP now owns 601,776 shares of the software maker’s stock worth $39,814,000 after purchasing an additional 369,780 shares in the last quarter. Vanguard Group Inc. lifted its stake in Agilysys by 6.1% during the third quarter. Vanguard Group Inc. now owns 1,838,222 shares of the software maker’s stock worth $121,617,000 after purchasing an additional 106,026 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Agilysys by 346.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 29,031 shares of the software maker’s stock valued at $1,921,000 after purchasing an additional 22,527 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Agilysys by 36.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 218,418 shares of the software maker’s stock valued at $18,526,000 after purchasing an additional 58,278 shares during the period. 88.00% of the stock is currently owned by institutional investors and hedge funds.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.