Agilysys (NASDAQ:AGYS) Stock Price Down 5.4% – Here’s What Happened

Agilysys, Inc. (NASDAQ:AGYS) shares dropped 5.4% on Tuesday . The stock traded as low as $100.31 and last traded at $100.54. 124,735 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 354,416 shares. The stock had previously closed at $106.28.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AGYS shares. Oppenheimer lifted their price objective on Agilysys from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Weiss Ratings raised shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. UBS Group set a $110.00 target price on shares of Agilysys in a research note on Wednesday, June 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a report on Wednesday, June 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target on shares of Agilysys in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.00.

Agilysys Trading Down 5.2%

The business has a 50 day simple moving average of $91.98 and a two-hundred day simple moving average of $85.58. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 74.05 and a beta of 0.37.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, May 18th. The software maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.51 by $0.12. The company had revenue of $82.95 million during the quarter, compared to analysts’ expectations of $81.56 million. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. Research analysts anticipate that Agilysys, Inc. will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Agilysys

Several large investors have recently added to or reduced their stakes in AGYS. GAMMA Investing LLC boosted its stake in shares of Agilysys by 31.1% during the 4th quarter. GAMMA Investing LLC now owns 552 shares of the software maker’s stock worth $66,000 after acquiring an additional 131 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Agilysys by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 5,023 shares of the software maker’s stock valued at $597,000 after acquiring an additional 153 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Agilysys by 1.1% in the 4th quarter. State of Alaska Department of Revenue now owns 14,326 shares of the software maker’s stock valued at $1,701,000 after acquiring an additional 156 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after acquiring an additional 159 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Agilysys by 33.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 639 shares of the software maker’s stock worth $81,000 after purchasing an additional 161 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors.

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.