Agilysys (NASDAQ:AGYS) Downgraded to Strong Sell Rating by Zacks Research

Agilysys (NASDAQ:AGYS) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently weighed in on AGYS. BTIG Research initiated coverage on Agilysys in a research report on Tuesday, December 16th. They issued a “neutral” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a report on Wednesday, January 21st. Cantor Fitzgerald restated an “overweight” rating and set a $140.00 price objective on shares of Agilysys in a report on Tuesday, October 28th. Oppenheimer lifted their target price on shares of Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Wall Street Zen upgraded shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $145.40.

Agilysys Price Performance

AGYS opened at $85.26 on Wednesday. The firm has a market capitalization of $2.40 billion, a PE ratio of 79.68 and a beta of 0.43. The business’s 50-day moving average is $117.78 and its two-hundred day moving average is $114.85. Agilysys has a 1 year low of $63.71 and a 1 year high of $145.25.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The firm had revenue of $80.39 million during the quarter, compared to analysts’ expectations of $79.07 million. During the same period in the previous year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts expect that Agilysys will post 0.8 EPS for the current year.

Insider Buying and Selling at Agilysys

In other Agilysys news, Director Donald A. Colvin sold 6,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $123.28, for a total value of $739,680.00. Following the sale, the director directly owned 24,592 shares of the company’s stock, valued at approximately $3,031,701.76. This represents a 19.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris J. Robertson sold 500 shares of Agilysys stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $131.34, for a total value of $65,670.00. Following the transaction, the insider owned 687 shares of the company’s stock, valued at $90,230.58. The trade was a 42.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,576 shares of company stock worth $1,189,070. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Several hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its holdings in shares of Agilysys by 30.1% during the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after purchasing an additional 159 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Agilysys by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker’s stock worth $972,000 after acquiring an additional 569 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Agilysys by 125.0% in the first quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker’s stock worth $24,080,000 after acquiring an additional 184,402 shares during the period. Jane Street Group LLC raised its position in shares of Agilysys by 1,025.2% in the first quarter. Jane Street Group LLC now owns 37,750 shares of the software maker’s stock worth $2,738,000 after acquiring an additional 34,395 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Agilysys by 43.2% during the 2nd quarter. GAMMA Investing LLC now owns 305 shares of the software maker’s stock worth $35,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.