Craig Hallum Issues Pessimistic Forecast for Agilysys (NASDAQ:AGYS) Stock Price

Agilysys (NASDAQ:AGYS) had its price objective reduced by research analysts at Craig Hallum from $125.00 to $120.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s price target would suggest a potential downside of 4.69% from the company’s previous close.

Several other analysts also recently issued reports on AGYS. BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Oppenheimer dropped their price target on Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday. Northland Securities raised their price objective on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Needham & Company LLC dropped their target price on Agilysys from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.00.

Agilysys Trading Up 3.4 %

Shares of NASDAQ AGYS opened at $125.90 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19. Agilysys has a 12 month low of $74.03 and a 12 month high of $142.64. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 35.87 and a beta of 0.94. The business has a fifty day simple moving average of $131.80 and a 200-day simple moving average of $116.74.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $69.60 million during the quarter, compared to analyst estimates of $73,149.20 billion. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. Sell-side analysts predict that Agilysys will post 0.81 EPS for the current year.

Insider Activity

In related news, insider Chris J. Robertson sold 264 shares of Agilysys stock in a transaction on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $26,627.04. Following the completion of the sale, the insider now owns 22,624 shares of the company’s stock, valued at approximately $2,281,856.64. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Mutch sold 500 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.24, for a total transaction of $52,120.00. Following the transaction, the director now directly owns 35,858 shares in the company, valued at $3,737,837.92. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,122 shares of company stock worth $9,002,291 in the last three months. 19.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Agilysys

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGYS. Lord Abbett & CO. LLC raised its position in shares of Agilysys by 47.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock valued at $115,383,000 after purchasing an additional 340,424 shares during the period. Fred Alger Management LLC grew its stake in Agilysys by 1.9% in the 2nd quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock valued at $97,689,000 after buying an additional 17,898 shares during the last quarter. State Street Corp raised its holdings in Agilysys by 5.0% in the 3rd quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after acquiring an additional 43,760 shares during the period. Geneva Capital Management LLC lifted its position in Agilysys by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker’s stock worth $73,597,000 after acquiring an additional 2,687 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Agilysys by 6.2% during the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock valued at $57,614,000 after acquiring an additional 30,655 shares during the period. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Company Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.