Agilysys (NASDAQ:AGYS) Shares Gap Up on Analyst Upgrade

Agilysys, Inc. (NASDAQ:AGYS) shares gapped up prior to trading on Tuesday after BTIG Research raised their price target on the stock from $118.00 to $124.00. The stock had previously closed at $111.49, but opened at $119.83. BTIG Research currently has a buy rating on the stock. Agilysys shares last traded at $106.11, with a volume of 30,417 shares trading hands.

A number of other equities analysts have also recently weighed in on the company. StockNews.com raised Agilysys from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $125.00 price objective on shares of Agilysys in a report on Monday, September 16th. Northland Securities lifted their target price on shares of Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Craig Hallum upped their price target on shares of Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Oppenheimer lifted their price objective on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $127.80.

Insiders Place Their Bets

In other news, insider Chris J. Robertson sold 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total transaction of $435,320.00. Following the completion of the sale, the insider now directly owns 22,888 shares in the company, valued at approximately $2,490,901.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Chris J. Robertson sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total transaction of $435,320.00. Following the completion of the transaction, the insider now owns 22,888 shares in the company, valued at $2,490,901.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction on Monday, September 9th. The shares were sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the completion of the sale, the chief executive officer now owns 738,367 shares in the company, valued at approximately $75,335,585.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $3,734,810 in the last quarter. Insiders own 19.30% of the company’s stock.

Institutional Trading of Agilysys

Several institutional investors and hedge funds have recently bought and sold shares of AGYS. Conestoga Capital Advisors LLC raised its position in shares of Agilysys by 79.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 285,071 shares of the software maker’s stock worth $31,064,000 after acquiring an additional 126,193 shares in the last quarter. Oak Ridge Investments LLC bought a new stake in shares of Agilysys during the third quarter valued at approximately $3,112,000. US Bancorp DE grew its stake in Agilysys by 11.2% in the third quarter. US Bancorp DE now owns 1,216 shares of the software maker’s stock worth $133,000 after purchasing an additional 122 shares during the period. State of Alaska Department of Revenue raised its holdings in Agilysys by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 12,718 shares of the software maker’s stock worth $1,385,000 after purchasing an additional 862 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Agilysys by 5.9% during the third quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the software maker’s stock valued at $1,177,000 after buying an additional 600 shares during the period. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Stock Performance

The stock’s 50-day moving average price is $109.17 and its two-hundred day moving average price is $101.56. The stock has a market capitalization of $2.85 billion, a PE ratio of 29.31 and a beta of 0.83.

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.