Agilysys (NASDAQ:AGYS) Posts Quarterly Earnings Results

Key Points

• Agilysys exceeded quarterly expectations, reporting adjusted earnings of $0.49 per share versus the $0.40 consensus estimate and revenue of $87.68 million compared with $85.97 million expected.
• Shares rose 4.8% to $103.24 following the results. The stock has a $2.91 billion market capitalization and trades at a price-to-earnings ratio of approximately 75.9.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $116. Institutional investors own approximately 88% of the company’s stock.

Agilysys (NASDAQ:AGYS - Get Free Report) posted its quarterly earnings results on Monday. The software maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.09, FiscalAI reports. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.The firm had revenue of $87.68 million for the quarter, compared to analyst estimates of $85.97 million.

Agilysys Stock Up 4.8%

Shares of NASDAQ AGYS traded up $4.70 during midday trading on Monday, hitting $103.24. 312,944 shares of the company's stock were exchanged, compared to its average volume of 353,410. Agilysys has a 12 month low of $61.50 and a 12 month high of $145.25. The company's 50 day moving average price is $94.44 and its 200 day moving average price is $85.03. The firm has a market capitalization of $2.91 billion, a PE ratio of 75.91 and a beta of 0.37.

Institutional Investors Weigh In On Agilysys

A number of large investors have recently added to or reduced their stakes in AGYS. Wellington Management Group LLP raised its stake in Agilysys by 75.9% in the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker's stock worth $72,675,000 after purchasing an additional 297,846 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Agilysys by 125.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker's stock worth $24,080,000 after purchasing an additional 184,402 shares in the last quarter. Millennium Management LLC grew its position in shares of Agilysys by 426.9% during the 3rd quarter. Millennium Management LLC now owns 117,861 shares of the software maker's stock worth $12,405,000 after purchasing an additional 95,494 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Agilysys by 205.5% during the second quarter. Sei Investments Co. now owns 129,948 shares of the software maker's stock worth $14,897,000 after purchasing an additional 87,416 shares during the period. Finally, Bamco Inc. NY increased its holdings in shares of Agilysys by 245.3% during the second quarter. Bamco Inc. NY now owns 93,809 shares of the software maker's stock worth $10,754,000 after purchasing an additional 66,644 shares during the period. Institutional investors own 88.00% of the company's stock.

Wall Street Analysts Forecast Growth

AGYS has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $120.00 target price on shares of Agilysys in a research note on Tuesday, May 19th. Piper Sandler initiated coverage on shares of Agilysys in a research report on Tuesday, June 2nd. They set an "overweight" rating and a $110.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Agilysys in a research note on Wednesday, June 17th. Oppenheimer lifted their price objective on shares of Agilysys from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Agilysys currently has an average rating of "Moderate Buy" and a consensus target price of $116.00.

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.

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