Agilysys (NASDAQ:AGYS) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Agilysys shares rose above their 200-day moving average, reaching $109.22 and last trading near $109.07, up 4.4%.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $124.60.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.49 versus $0.40 expected and revenue of $87.68 million, up 14.3% year over year; however, insiders sold more than $23 million of stock over the past 90 days.

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $88.91 and traded as high as $109.22. Agilysys shares last traded at $109.07, with a volume of 245,233 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. Needham & Company LLC upped their price target on shares of Agilysys from $130.00 to $135.00 and gave the company a "buy" rating in a report on Monday, August 10th. Piper Sandler increased their price objective on shares of Agilysys from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. UBS Group set a $110.00 price objective on shares of Agilysys in a report on Wednesday, June 3rd. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $118.00 price objective on shares of Agilysys in a research report on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.60.

Agilysys Trading Up 4.4%

The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 72.23 and a beta of 0.38. The stock's 50 day moving average price is $109.43 and its 200 day moving average price is $88.91.

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

Insider Buying and Selling

In other news, CEO Ramesh Srinivasan sold 106,205 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William Wood, III sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $114.72, for a total value of $688,320.00. Following the sale, the chief financial officer owned 35,052 shares in the company, valued at approximately $4,021,165.44. This represents a 14.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 212,812 shares of company stock worth $23,046,675 over the last 90 days. Company insiders own 8.70% of the company's stock.

Institutional Trading of Agilysys

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Agilysys in the second quarter valued at approximately $431,704,000. California State Teachers Retirement System increased its holdings in shares of Agilysys by 10,080.9% during the 2nd quarter. California State Teachers Retirement System now owns 3,201,880 shares of the software maker's stock worth $334,596,000 after acquiring an additional 3,170,430 shares during the last quarter. Wasatch Advisors LP increased its holdings 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 during the last quarter. Capital Research Global Investors bought a new stake in Agilysys in the 4th quarter valued at $104,878,000. Finally, Conestoga Capital Advisors LLC raised its stake in Agilysys by 14.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 683,741 shares of the software maker's stock valued at $48,641,000 after acquiring an additional 85,600 shares during the period. 88.00% of the stock is owned by institutional investors.

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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