Needham & Company LLC Reiterates “Buy” Rating for Agilysys (NASDAQ:AGYS)

Agilysys (NASDAQ:AGYS)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $140.00 target price on the software maker’s stock. Needham & Company LLC’s price target points to a potential upside of 63.42% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. UBS Group reiterated a “buy” rating on shares of Agilysys in a report on Monday, December 15th. Wall Street Zen upgraded Agilysys from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $140.00 target price on shares of Agilysys in a report on Tuesday, October 28th. BTIG Research started coverage on shares of Agilysys in a report on Tuesday, December 16th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Agilysys in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.40.

Agilysys Price Performance

Shares of AGYS stock opened at $85.67 on Tuesday. The company has a market capitalization of $2.41 billion, a P/E ratio of 80.07 and a beta of 0.43. The company’s 50-day simple moving average is $118.48 and its two-hundred day simple moving average is $115.06. Agilysys has a one year low of $63.71 and a one year high of $145.25.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results 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 net margin of 9.79% and a return on equity of 10.71%. The company had revenue of $80.39 million for the quarter, compared to the consensus estimate of $79.07 million. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue was up 15.6% on a year-over-year basis. On average, research analysts expect that Agilysys will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at Agilysys

In other news, CFO William David Wood III sold 584 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $125.20, for a total value of $73,116.80. Following the sale, the chief financial officer directly owned 41,052 shares in the company, valued at approximately $5,139,710.40. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sethuram Shivashankar sold 497 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $124.64, for a total transaction of $61,946.08. Following the transaction, the insider owned 24,031 shares of the company’s stock, valued at approximately $2,995,223.84. This trade represents a 2.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 9,576 shares of company stock valued at $1,189,070. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Agilysys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Peregrine Capital Management LLC grew its stake in Agilysys by 9.8% during the 4th quarter. Peregrine Capital Management LLC now owns 113,447 shares of the software maker’s stock worth $13,482,000 after buying an additional 10,087 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new stake in Agilysys in the fourth quarter valued at about $2,622,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Agilysys by 5.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 5,671 shares of the software maker’s stock worth $675,000 after acquiring an additional 294 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Agilysys by 8.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,809 shares of the software maker’s stock worth $928,000 after acquiring an additional 578 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Agilysys by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 14,326 shares of the software maker’s stock valued at $1,701,000 after acquiring an additional 156 shares in 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.