Agilysys (NASDAQ:AGYS) Given New $120.00 Price Target at Needham & Company LLC

Agilysys (NASDAQ:AGYS) had its price target reduced by research analysts at Needham & Company LLC from $140.00 to $120.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective indicates a potential upside of 47.24% from the stock’s previous close.

Several other research firms have also recently issued reports on AGYS. Cantor Fitzgerald reiterated an “overweight” rating and set a $140.00 target price on shares of Agilysys in a research report on Tuesday, October 28th. Zacks Research lowered shares of Agilysys from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Wall Street Zen downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. UBS Group reaffirmed a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $141.40.

Agilysys Price Performance

Shares of NASDAQ:AGYS opened at $81.50 on Tuesday. The company has a market capitalization of $2.29 billion, a P/E ratio of 76.17 and a beta of 0.41. Agilysys has a 1-year low of $63.71 and a 1-year high of $145.25. The firm’s 50 day simple moving average is $108.28 and its two-hundred day simple moving average is $112.26.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Agilysys had a net margin of 9.79% and a return on equity of 10.71%. The firm had revenue of $80.39 million for the quarter, compared to analysts’ expectations of $79.07 million. During the same quarter last year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Agilysys will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Donald A. Colvin sold 6,000 shares of the stock in a transaction dated 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 $3,031,701.76. This represents a 19.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Melvin L. Keating bought 300 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were acquired at an average price of $83.62 per share, with a total value of $25,086.00. Following the transaction, the director directly owned 35,007 shares of the company’s stock, valued at approximately $2,927,285.34. This trade represents a 0.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AGYS. Vanguard Group Inc. boosted its holdings in shares of Agilysys by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock valued at $286,160,000 after purchasing an additional 32,052 shares during the period. Wasatch Advisors LP lifted its position in shares of Agilysys by 5.3% in the 2nd quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock worth $115,204,000 after purchasing an additional 50,536 shares during the period. State Street Corp raised its stake in Agilysys by 0.5% in the fourth quarter. State Street Corp now owns 1,003,062 shares of the software maker’s stock worth $119,204,000 after buying an additional 4,516 shares in the last quarter. Capital Research Global Investors bought a new stake in Agilysys during the 4th quarter valued at $104,878,000. Finally, Geneva Capital Management LLC increased its holdings in shares of Agilysys by 6.7% in the 2nd quarter. Geneva Capital Management LLC now owns 816,637 shares of the software maker’s stock valued at $93,619,000 after acquiring an additional 51,274 shares during the period. Hedge funds and other institutional investors own 88.00% of the company’s stock.

About Agilysys

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.