Agilysys (NASDAQ:AGYS) Given "Buy" Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Agilysys (NASDAQ:AGYS - Free Report) in a report released on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $100.00 price objective on the software maker's stock.

Separately, StockNews.com upgraded Agilysys from a hold rating to a buy rating in a research note on Tuesday, May 7th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $92.50.

Agilysys Stock Performance

NASDAQ AGYS traded up $11.95 during trading hours on Tuesday, hitting $92.16. 484,995 shares of the company's stock were exchanged, compared to its average volume of 200,820. The business's 50 day moving average is $81.14 and its 200-day moving average is $82.95. Agilysys has a 12-month low of $62.00 and a 12-month high of $92.35. The firm has a market capitalization of $2.52 billion, a P/E ratio of 28.89 and a beta of 0.68.

Agilysys (NASDAQ:AGYS - Get Free Report) last issued its earnings results on Monday, May 13th. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.04. Agilysys had a return on equity of 20.54% and a net margin of 38.27%. The business had revenue of $62.22 million during the quarter, compared to analysts' expectations of $61.95 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company's revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities research analysts anticipate that Agilysys will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling at Agilysys

In other news, major shareholder Mak Capital One Llc sold 867,729 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $82.59, for a total transaction of $71,665,738.11. Following the completion of the transaction, the insider now directly owns 2,060,458 shares in the company, valued at approximately $170,173,226.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 23.60% of the stock is owned by insiders.

Institutional Trading of Agilysys

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker's stock valued at $166,530,000 after buying an additional 217,008 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Agilysys by 6.3% during the third quarter. Artisan Partners Limited Partnership now owns 1,213,452 shares of the software maker's stock valued at $80,282,000 after buying an additional 72,111 shares in the last quarter. Wasatch Advisors LP raised its stake in Agilysys by 439.5% during the first quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker's stock valued at $84,903,000 after buying an additional 820,840 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Agilysys by 13.8% during the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker's stock valued at $60,920,000 after buying an additional 87,549 shares in the last quarter. Finally, Geneva Capital Management LLC raised its position in shares of Agilysys by 10.6% during the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker's stock worth $57,805,000 after purchasing an additional 65,672 shares during the period. Institutional investors and hedge funds own 88.00% of the company's stock.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.