Needham & Company LLC Issues Pessimistic Forecast for Agilysys (NASDAQ:AGYS) Stock Price

Agilysys (NASDAQ:AGYS) had its price target dropped by analysts at Needham & Company LLC from $140.00 to $120.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 50.39% from the stock’s current price.

Several other analysts have also issued reports on the stock. Wall Street Zen lowered shares of Agilysys from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. UBS Group reissued a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. BTIG Research initiated coverage on shares of Agilysys in a research report on Tuesday, December 16th. They set a “neutral” rating for the company. Zacks Research downgraded shares of Agilysys from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Finally, Oppenheimer upped their price target on Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $141.40.

Agilysys Stock Performance

AGYS stock opened at $79.79 on Tuesday. Agilysys has a one year low of $63.71 and a one year high of $145.25. The firm has a market cap of $2.24 billion, a PE ratio of 74.57 and a beta of 0.41. The firm’s 50 day moving average price is $106.41 and its 200-day moving average price is $111.79.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.04). Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The business had revenue of $80.39 million during the quarter, compared to analysts’ expectations of $79.07 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. Equities research analysts predict that Agilysys will post 0.8 EPS for the current fiscal year.

Insider Activity at Agilysys

In related news, Director Donald A. Colvin sold 6,000 shares of Agilysys stock in a transaction on Friday, November 21st. The stock was sold at an average price of $123.28, for a total value of $739,680.00. Following the completion of the transaction, the director directly owned 24,592 shares in the company, valued at approximately $3,031,701.76. This trade represents a 19.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Melvin L. Keating purchased 300 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were bought at an average price of $83.62 per share, for a total transaction of $25,086.00. Following the acquisition, the director owned 35,007 shares in the company, valued at $2,927,285.34. This trade represents a 0.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Several hedge funds and other institutional investors have recently made changes to their positions in AGYS. Caitong International Asset Management Co. Ltd raised its holdings in Agilysys by 419.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock valued at $25,000 after acquiring an additional 172 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Agilysys by 118.5% during the 3rd quarter. Global Retirement Partners LLC now owns 260 shares of the software maker’s stock worth $27,000 after acquiring an additional 141 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Agilysys in the 4th quarter valued at approximately $34,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Agilysys in the 2nd quarter valued at $30,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Agilysys by 215.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker’s stock worth $39,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.