Agilysys, Inc. (NASDAQ:AGYS) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Agilysys has a “Moderate Buy” consensus rating from eight analysts, with five buys and three holds. The average 12-month price target is $124.60, above the reported share price of $99.64.
• The company exceeded quarterly expectations, reporting $0.49 in EPS versus the $0.40 consensus estimate and revenue of $87.68 million. Revenue rose 14.3% year over year, while analysts forecast full-year EPS of $1.73.
• Insiders sold 212,812 shares worth approximately $23.05 million over the past three months, while institutional investors and hedge funds own about 88% of the stock.

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $124.60.

A number of research firms recently issued reports on AGYS. Piper Sandler boosted their target price on shares of Agilysys from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Oppenheimer reaffirmed an "outperform" rating and set a $118.00 price target on shares of Agilysys in a research report on Tuesday, July 28th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Agilysys in a research note on Tuesday, July 28th. Needham & Company LLC lifted their price objective on Agilysys from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Zacks Research cut Agilysys from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th.

Insider Buying and Selling

In other Agilysys news, insider Joe Youssef sold 1,002 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $114.64, for a total value of $114,869.28. Following the sale, the insider owned 19,045 shares in the company, valued at approximately $2,183,318.80. This represents a 5.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ramesh Srinivasan sold 25,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $108.15, for a total value of $2,703,750.00. Following the completion of the sale, the chief executive officer owned 610,044 shares in the company, valued at approximately $65,976,258.60. This represents a 3.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 212,812 shares of company stock valued at $23,046,675 in the last three months. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agilysys

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Agilysys during the second quarter valued at $431,704,000. Capital Research Global Investors acquired a new position in shares of Agilysys in the fourth quarter worth about $104,878,000. Geode Capital Management LLC raised its position in shares of Agilysys by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 623,900 shares of the software maker's stock worth $74,156,000 after acquiring an additional 2,108 shares during the period. Nine Ten Capital Management LLC raised its position in shares of Agilysys by 0.3% in the second quarter. Nine Ten Capital Management LLC now owns 655,513 shares of the software maker's stock worth $68,501,000 after acquiring an additional 1,922 shares during the period. Finally, Wasatch Advisors LP boosted its stake in shares of Agilysys by 33.0% during the 1st quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker's stock worth $67,848,000 after acquiring an additional 236,373 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Trading Down 0.0%

AGYS opened at $99.64 on Friday. Agilysys has a 12-month low of $61.50 and a 12-month high of $145.25. The firm has a 50 day moving average of $108.21 and a two-hundred day moving average of $90.44. The firm has a market capitalization of $2.81 billion, a PE ratio of 65.99 and a beta of 0.38.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.40 by $0.09. The business had revenue of $87.68 million for the quarter, compared to the consensus estimate of $85.97 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, analysts predict that Agilysys will post 1.73 EPS for the current fiscal year.

Agilysys Company Profile

Agilysys, Inc develops and provides hospitality software and technology solutions for hotels, resorts, casinos, cruise lines, corporate foodservice operations, universities and other hospitality-focused organizations. Its offerings are designed to help businesses manage guest experiences, property operations and back-office processes.

The company's product portfolio includes property management systems, point-of-sale solutions, inventory and procurement software, workforce management tools, guest engagement applications, payment solutions and related services.

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