Needham & Company LLC Lowers Agilysys (NASDAQ:AGYS) Price Target to $125.00

Agilysys (NASDAQ:AGYS) had its target price cut by equities researchers at Needham & Company LLC from $145.00 to $125.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 30.66% from the stock’s current price.

Several other analysts have also commented on the company. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Oppenheimer increased their price target on shares of Agilysys from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. BTIG Research boosted their price objective on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Northland Securities increased their price target on Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

Agilysys Trading Down 5.0 %

NASDAQ AGYS opened at $95.67 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. Agilysys has a fifty-two week low of $74.03 and a fifty-two week high of $142.64. The stock has a market cap of $2.67 billion, a P/E ratio of 119.59 and a beta of 0.94. The stock has a 50 day simple moving average of $131.35 and a two-hundred day simple moving average of $116.79.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $73,149.20 billion. Agilysys had a net margin of 8.45% and a return on equity of 9.44%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, analysts forecast that Agilysys will post 0.81 earnings per share for the current year.

Insider Transactions at Agilysys

In other news, Director Melvin L. Keating sold 3,280 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $122.84, for a total value of $402,915.20. Following the completion of the sale, the director now directly owns 34,407 shares in the company, valued at $4,226,555.88. This represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $130.55, for a total transaction of $979,125.00. Following the sale, the director now owns 330,576 shares of the company’s stock, valued at $43,156,696.80. This represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,122 shares of company stock valued at $9,002,291 in the last quarter. 19.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Agilysys

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGYS. Synergy Asset Management LLC increased its stake in Agilysys by 19.1% in the fourth quarter. Synergy Asset Management LLC now owns 86,080 shares of the software maker’s stock valued at $11,157,000 after purchasing an additional 13,785 shares during the last quarter. KBC Group NV boosted its position in shares of Agilysys by 71.3% in the 4th quarter. KBC Group NV now owns 1,127 shares of the software maker’s stock worth $148,000 after buying an additional 469 shares in the last quarter. Blue Trust Inc. grew its stake in Agilysys by 18.9% in the 4th quarter. Blue Trust Inc. now owns 1,130 shares of the software maker’s stock valued at $149,000 after acquiring an additional 180 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Agilysys by 21.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 3,065 shares of the software maker’s stock valued at $404,000 after acquiring an additional 535 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Agilysys by 320.5% during the fourth quarter. SG Americas Securities LLC now owns 4,192 shares of the software maker’s stock worth $552,000 after acquiring an additional 3,195 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

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.