Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $116.94, but opened at $100.45. Agilysys shares last traded at $107.01, with a volume of 211,324 shares.
The software maker reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Agilysys had a return on equity of 11.13% and a net margin of 4.85%. The company had revenue of $76.68 million for the quarter, compared to analyst estimates of $74.42 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The business's quarterly revenue was up 20.7% compared to the same quarter last year.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Agilysys in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $125.00 price objective for the company. Northland Securities set a $152.00 price target on shares of Agilysys in a research note on Tuesday, May 20th. Oppenheimer boosted their price objective on shares of Agilysys from $90.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Needham & Company LLC restated a "buy" rating and issued a $105.00 target price (up previously from $100.00) on shares of Agilysys in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $120.86.
View Our Latest Report on Agilysys
Insider Transactions at Agilysys
In other Agilysys news, CFO William David Wood III sold 321 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total value of $36,398.19. Following the completion of the sale, the chief financial officer owned 47,288 shares in the company, valued at approximately $5,361,986.32. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris J. Robertson sold 258 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $113.39, for a total value of $29,254.62. Following the completion of the sale, the insider owned 21,137 shares of the company's stock, valued at approximately $2,396,724.43. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,405 shares of company stock worth $158,033 in the last three months. Corporate insiders own 19.30% of the company's stock.
Institutional Investors Weigh In On Agilysys
Several large investors have recently modified their holdings of AGYS. Nuveen LLC purchased a new stake in shares of Agilysys during the first quarter worth approximately $80,730,000. Invesco Ltd. grew its holdings in Agilysys by 412.9% during the fourth quarter. Invesco Ltd. now owns 727,794 shares of the software maker's stock worth $95,858,000 after acquiring an additional 585,886 shares during the period. Franklin Resources Inc. grew its holdings in Agilysys by 521.7% during the fourth quarter. Franklin Resources Inc. now owns 610,028 shares of the software maker's stock worth $80,347,000 after acquiring an additional 511,900 shares during the period. Riverbridge Partners LLC acquired a new position in Agilysys during the first quarter worth $32,913,000. Finally, Conestoga Capital Advisors LLC grew its holdings in Agilysys by 105.2% during the first quarter. Conestoga Capital Advisors LLC now owns 731,039 shares of the software maker's stock worth $53,030,000 after acquiring an additional 374,800 shares during the period. Hedge funds and other institutional investors own 88.00% of the company's stock.
Agilysys Price Performance
The stock has a fifty day moving average of $110.21 and a two-hundred day moving average of $93.21. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 230.20 and a beta of 0.75. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 0.04.
Agilysys Company Profile
(
Get Free Report)
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.
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