Agilysys (NASDAQ:AGYS) Shares Down 5.4% - Here's What Happened

Key Points

• Agilysys shares fell 5.4% on Tuesday, closing at $100.54 after trading as low as $100.31, with volume running well below average.
• Despite the pullback, analyst sentiment remains positive: the stock has a Moderate Buy consensus rating and an average price target of $116.
• Agilysys recently posted better-than-expected quarterly results, including EPS of $0.63 versus estimates of $0.51 and revenue growth of 11.7% year over year.

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report)'s share price traded down 5.4% during trading on Tuesday . The stock traded as low as $100.31 and last traded at $100.54. Approximately 124,735 shares were traded during trading, a decline of 65% from the average session volume of 354,416 shares. The stock had previously closed at $106.28.

Analyst Ratings Changes

Several research analysts have commented on the stock. Oppenheimer lifted their price target on shares of Agilysys from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 19th. Weiss Ratings raised shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $120.00 price target on shares of Agilysys in a research note on Tuesday, May 19th. Zacks Research raised Agilysys from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 3rd. Finally, UBS Group set a $110.00 target price on shares of Agilysys in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $116.00.

Agilysys Price Performance

The company has a market cap of $2.84 billion, a P/E ratio of 74.05 and a beta of 0.37. The company's 50-day moving average is $91.98 and its two-hundred day moving average is $85.58.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings results on Monday, May 18th. The software maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.12. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.The firm had revenue of $82.95 million for the quarter, compared to the consensus estimate of $81.56 million. During the same period last year, the business posted $0.54 EPS. The company's revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Agilysys, Inc. will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AGYS. Capital Research Global Investors acquired a new stake in shares of Agilysys during the fourth quarter worth $104,878,000. Wellington Management Group LLP lifted its position in Agilysys by 75.9% during the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker's stock worth $72,675,000 after buying an additional 297,846 shares during the period. Wasatch Advisors LP lifted its position in Agilysys by 33.0% during the first quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker's stock worth $67,848,000 after buying an additional 236,373 shares during the period. Goldman Sachs Group Inc. boosted its stake in Agilysys by 125.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker's stock worth $24,080,000 after buying an additional 184,402 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Agilysys by 64.8% in the 1st quarter. Jennison Associates LLC now owns 365,580 shares of the software maker's stock worth $26,007,000 after buying an additional 143,789 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

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.

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