Agilysys (NASDAQ:AGYS) Trading Down 4.5% Following Analyst Downgrade

Agilysys, Inc. (NASDAQ:AGYS)’s share price traded down 4.5% during trading on Thursday after Craig Hallum lowered their price target on the stock from $125.00 to $120.00. Craig Hallum currently has a buy rating on the stock. Agilysys traded as low as $97.00 and last traded at $96.14. 125,868 shares changed hands during trading, a decline of 63% from the average session volume of 342,362 shares. The stock had previously closed at $100.67.

Several other research firms have also commented on AGYS. Oppenheimer decreased their price objective on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday. BTIG Research raised their price objective on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Northland Securities upped their target price on Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Needham & Company LLC lowered their target price on Agilysys from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com cut Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.00.

Insider Buying and Selling

In related news, CFO William David Wood III sold 588 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $100.86, for a total transaction of $59,305.68. Following the transaction, the chief financial officer now directly owns 49,479 shares in the company, valued at approximately $4,990,451.94. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $96.68, for a total value of $725,100.00. Following the completion of the sale, the director now directly owns 233,076 shares in the company, valued at approximately $22,533,787.68. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,622 shares of company stock worth $9,727,391. 19.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Agilysys

A number of institutional investors have recently bought and sold shares of AGYS. FMR LLC boosted its holdings in shares of Agilysys by 1,197.1% in the 3rd quarter. FMR LLC now owns 505,690 shares of the software maker’s stock valued at $55,105,000 after purchasing an additional 466,704 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of Agilysys by 47.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock worth $115,383,000 after buying an additional 340,424 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Agilysys by 79.4% in the third quarter. Conestoga Capital Advisors LLC now owns 285,071 shares of the software maker’s stock valued at $31,064,000 after acquiring an additional 126,193 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Agilysys by 434.3% in the third quarter. Franklin Resources Inc. now owns 98,128 shares of the software maker’s stock valued at $11,477,000 after acquiring an additional 79,764 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Agilysys during the third quarter valued at about $8,312,000. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Price Performance

The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 115.30 and a beta of 0.94. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $130.27 and a 200 day simple moving average of $116.55.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $69.60 million during the quarter, compared to the consensus estimate of $73,149.20 billion. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, research analysts predict that Agilysys, Inc. will post 0.81 EPS for the current year.

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.