Agilysys (NASDAQ:AGYS) Shares Gap Up Following Earnings Beat

Agilysys, Inc. (NASDAQ:AGYS) shares gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $111.49, but opened at $119.83. Agilysys shares last traded at $106.11, with a volume of 30,417 shares traded.

The software maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $68.30 million during the quarter, compared to analysts’ expectations of $67.54 million. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. Agilysys’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AGYS shares. Northland Securities reissued an “outperform” rating and issued a $145.00 target price (up previously from $132.00) on shares of Agilysys in a research note on Tuesday. BTIG Research upped their price objective on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Agilysys in a research note on Tuesday. Craig Hallum upped their price target on Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Oppenheimer lifted their price target on shares of Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $127.80.

Insider Activity at Agilysys

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the sale, the chief executive officer now owns 738,367 shares in the company, valued at approximately $75,335,585.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Agilysys news, Director John Mutch sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the sale, the director now directly owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the completion of the transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at $75,335,585.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock valued at $3,734,810 over the last ninety days. 19.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Agilysys

Large investors have recently bought and sold shares of the business. US Bancorp DE raised its position in shares of Agilysys by 11.2% during the 3rd quarter. US Bancorp DE now owns 1,216 shares of the software maker’s stock valued at $133,000 after acquiring an additional 122 shares during the last quarter. GAMMA Investing LLC lifted its stake in Agilysys by 162.1% in the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after buying an additional 154 shares during the period. RiverPark Advisors LLC lifted its stake in Agilysys by 9.6% in the second quarter. RiverPark Advisors LLC now owns 1,936 shares of the software maker’s stock valued at $202,000 after buying an additional 170 shares during the period. CWM LLC boosted its holdings in Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after buying an additional 199 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Agilysys by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the software maker’s stock worth $1,062,000 after buying an additional 200 shares during the period. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Trading Down 4.0 %

The company has a market capitalization of $2.74 billion, a P/E ratio of 28.32 and a beta of 0.83. The business has a 50 day moving average price of $109.04 and a 200 day moving average price of $101.70.

About Agilysys

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.