Agilysys (NASDAQ:AGYS) Upgraded to “Strong-Buy” at Zacks Research

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

A number of other analysts also recently weighed in on AGYS. UBS Group set a $110.00 target price on Agilysys in a research report on Wednesday. Weiss Ratings downgraded Agilysys from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Piper Sandler started coverage on Agilysys in a research report on Tuesday. They issued an “overweight” rating and a $110.00 target price for the company. Oppenheimer boosted their target price on Agilysys from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Agilysys in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.00.

Agilysys Trading Up 1.2%

Shares of AGYS opened at $89.42 on Wednesday. The company has a market cap of $2.52 billion, a PE ratio of 65.75 and a beta of 0.41. The stock has a 50-day moving average price of $72.17 and a 200-day moving average price of $91.00. Agilysys has a 12-month low of $61.50 and a 12-month high of $145.25.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Monday, May 18th. The software maker reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The firm had revenue of $82.95 million during the quarter, compared to the consensus estimate of $81.56 million. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. As a group, analysts predict that Agilysys will post 1.75 earnings per share for the current year.

Hedge Funds Weigh In On Agilysys

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Agilysys by 6.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,456 shares of the software maker’s stock worth $153,000 after buying an additional 88 shares in the last quarter. Arizona State Retirement System increased its position in Agilysys by 1.3% in the third quarter. Arizona State Retirement System now owns 7,834 shares of the software maker’s stock worth $825,000 after buying an additional 98 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in Agilysys by 3.8% in the third quarter. Linden Thomas Advisory Services LLC now owns 3,613 shares of the software maker’s stock worth $380,000 after buying an additional 131 shares in the last quarter. GAMMA Investing LLC increased its position in Agilysys by 31.1% in the fourth quarter. GAMMA Investing LLC now owns 552 shares of the software maker’s stock worth $66,000 after buying an additional 131 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Agilysys by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 5,023 shares of the software maker’s stock worth $597,000 after buying an additional 153 shares in the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.

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.