Agilysys (NASDAQ:AGYS) Shares Break Above 200-Day Moving Average - Here's Why

Key Points

• Agilysys shares broke above their 200-day moving average, reaching $107.49 and last trading at $105.71, compared with a 200-day average of $92.88.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $124.60 price target. Piper Sandler recently raised its target to $120, while Zacks downgraded the stock to “Hold.”
• The company exceeded quarterly expectations, reporting $0.49 in earnings per share versus the $0.40 consensus and $87.68 million in revenue, up 14.3% year over year; meanwhile, insiders sold more than $23 million of shares during the quarter.

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $92.88 and traded as high as $107.49. Agilysys shares last traded at $105.71, with a volume of 248,231 shares changing hands.

Analyst Ratings Changes

AGYS has been the topic of several research analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Agilysys in a research note on Friday. Piper Sandler lifted their price target on shares of Agilysys from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Oppenheimer reiterated an "outperform" rating on shares of Agilysys in a report on Monday. Finally, Zacks Research cut shares of Agilysys from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.60.

Agilysys Trading Up 0.6%

The stock has a market capitalization of $2.98 billion, a P/E ratio of 70.01 and a beta of 0.37. The business has a 50-day moving average price of $107.33 and a 200 day moving average price of $92.88.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. The firm had revenue of $87.68 million during the quarter, compared to analyst estimates of $85.97 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. Agilysys's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, sell-side analysts predict that Agilysys, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Agilysys

In other news, insider Joe Youssef sold 1,002 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $114.64, for a total value of $114,869.28. Following the sale, the insider directly owned 19,045 shares in the company, valued at $2,183,318.80. The trade was a 5.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ramesh Srinivasan sold 106,205 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $106.62, for a total transaction of $11,323,577.10. Following the sale, the chief executive officer owned 635,044 shares in the company, valued at $67,708,391.28. This represents a 14.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 212,812 shares of company stock valued at $23,046,675. Corporate insiders own 8.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGYS. GAMMA Investing LLC increased its stake in Agilysys by 124.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the software maker's stock worth $145,000 after acquiring an additional 828 shares during the last quarter. MCF Advisors LLC raised its position in Agilysys by 120.3% during the second quarter. MCF Advisors LLC now owns 478 shares of the software maker's stock valued at $50,000 after purchasing an additional 261 shares during the period. Nine Ten Capital Management LLC lifted its stake in shares of Agilysys by 0.3% in the 2nd quarter. Nine Ten Capital Management LLC now owns 655,513 shares of the software maker's stock valued at $68,501,000 after purchasing an additional 1,922 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Agilysys by 44.1% in the 2nd quarter. Squarepoint Ops LLC now owns 10,462 shares of the software maker's stock valued at $1,093,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of Agilysys in the 2nd quarter valued at approximately $1,735,000. Hedge funds and other institutional investors own 88.00% of the company's stock.

Agilysys Company Profile

Agilysys, Inc develops and provides software, hardware, and services for the hospitality industry. Its solutions are designed to help hotels, resorts, casinos, cruise lines, corporate foodservice operations, universities, and healthcare organizations manage guest-facing and back-office activities.

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

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