Agilysys (NASDAQ:AGYS) Shares Gap Down After Earnings Miss

Agilysys, Inc. (NASDAQ:AGYS)’s stock price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $113.55, but opened at $95.71. Agilysys shares last traded at $89.3750, with a volume of 294,510 shares.

The software maker reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). The company had revenue of $80.39 million during the quarter, compared to analysts’ expectations of $79.07 million. Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AGYS. Weiss Ratings reiterated a “hold (c)” rating on shares of Agilysys in a research report on Wednesday, January 21st. Oppenheimer upped their price target on Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Wall Street Zen upgraded Agilysys from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Zacks Research cut Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, UBS Group reiterated a “buy” rating on shares of Agilysys in a research report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.40.

Insiders Place Their Bets

In other Agilysys news, insider Sethuram Shivashankar sold 497 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $124.64, for a total value of $61,946.08. Following the transaction, the insider owned 24,031 shares in the company, valued at approximately $2,995,223.84. This trade represents a 2.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris J. Robertson sold 500 shares of Agilysys stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $131.34, for a total transaction of $65,670.00. Following the sale, the insider directly owned 687 shares in the company, valued at approximately $90,230.58. This trade represents a 42.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 9,576 shares of company stock valued at $1,189,070. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Agilysys

Several hedge funds and other institutional investors have recently modified their holdings of AGYS. American Century Companies Inc. lifted its holdings in Agilysys by 38.7% in the second quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock valued at $71,955,000 after acquiring an additional 175,137 shares during the last quarter. Geode Capital Management LLC raised its position in Agilysys by 8.0% in the second quarter. Geode Capital Management LLC now owns 607,664 shares of the software maker’s stock valued at $69,670,000 after purchasing an additional 45,037 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Agilysys by 9.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 629,891 shares of the software maker’s stock valued at $72,211,000 after purchasing an additional 53,360 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Agilysys by 23.9% during the 2nd quarter. Franklin Resources Inc. now owns 379,587 shares of the software maker’s stock worth $43,516,000 after purchasing an additional 73,220 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of Agilysys by 13.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 205,857 shares of the software maker’s stock worth $21,666,000 after purchasing an additional 23,791 shares during the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.

Agilysys Stock Performance

The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 80.07 and a beta of 0.43. The business has a 50-day moving average of $118.48 and a 200-day moving average of $115.06.

Agilysys Company Profile

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.