Agilysys (NASDAQ:AGYS) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

Agilysys, Inc. (NASDAQ:AGYS) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $92.88 and traded as high as $107.49. Agilysys shares last traded at $105.71, with a volume of 248,231 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Needham & Company LLC raised their target price on Agilysys from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Zacks Research lowered Agilysys from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Piper Sandler increased their price objective on Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Agilysys in a report on Friday. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Agilysys currently has an average rating of “Moderate Buy” and an average price target of $124.60.

Agilysys Trading Down 1.7%

The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 71.13 and a beta of 0.37. The firm has a fifty day moving average price of $107.29 and a 200 day moving average price of $93.14.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The firm had revenue of $87.68 million during the quarter, compared to analysts’ expectations of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. As a group, equities analysts predict that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Joe Youssef sold 1,002 shares of Agilysys stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $114.64, for a total value of $114,869.28. Following the completion of the transaction, the insider directly owned 19,045 shares of the company’s stock, valued at $2,183,318.80. The trade was a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kyle Badger sold 8,400 shares of Agilysys stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total value of $958,104.00. Following the completion of the transaction, the senior vice president directly owned 75,037 shares of the company’s stock, valued at $8,558,720.22. This represents a 10.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 212,812 shares of company stock valued at $23,046,675. 8.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Agilysys

A number of institutional investors have recently modified their holdings of AGYS. BlackRock Inc. bought a new stake in shares of Agilysys during the second quarter worth approximately $431,704,000. Wasatch Advisors LP lifted its holdings in Agilysys by 33.0% in the first quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker’s stock valued at $67,848,000 after buying an additional 236,373 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in Agilysys by 14.3% in the first quarter. Conestoga Capital Advisors LLC now owns 683,741 shares of the software maker’s stock valued at $48,641,000 after buying an additional 85,600 shares during the period. Nine Ten Capital Management LLC boosted its stake in Agilysys by 0.3% in the second quarter. Nine Ten Capital Management LLC now owns 655,513 shares of the software maker’s stock valued at $68,501,000 after acquiring an additional 1,922 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Agilysys by 0.6% in the first quarter. Principal Financial Group Inc. now owns 463,682 shares of the software maker’s stock valued at $32,986,000 after acquiring an additional 2,983 shares during the last quarter. 88.00% of the stock is owned by institutional investors.

Agilysys Company Profile

Agilysys, Inc develops and provides software, hardware, and services for the hospitality industry. Its solutions are designed to help hotels, resorts, casinos, cruise lines, corporate foodservice operations, universities, and healthcare organizations manage guest-facing and back-office activities.

The company’s product portfolio includes property management systems, point-of-sale platforms, inventory and procurement tools, payment solutions, guest engagement applications, and related operational software.