Agilysys (NASDAQ:AGYS) Shares Down 4.5% Following Analyst Downgrade

Agilysys, Inc. (NASDAQ:AGYS)’s stock price fell 4.5% on Thursday after Craig Hallum lowered their price target on the stock from $125.00 to $120.00. Craig Hallum currently has a buy rating on the stock. Agilysys traded as low as $97.00 and last traded at $96.14. 125,868 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 342,362 shares. The stock had previously closed at $100.67.

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

Insiders Place Their Bets

In other Agilysys news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $130.55, for a total transaction of $979,125.00. Following the completion of the sale, the director now directly owns 330,576 shares in the company, valued at approximately $43,156,696.80. This trade represents a 2.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William David Wood III sold 588 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $100.86, for a total transaction of $59,305.68. Following the completion of the transaction, the chief financial officer now directly owns 49,479 shares in the company, valued at $4,990,451.94. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,122 shares of company stock valued at $9,002,291. Company insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Several institutional investors have recently bought and sold shares of AGYS. Envestnet Asset Management Inc. lifted its stake in shares of Agilysys by 19.5% in the second quarter. Envestnet Asset Management Inc. now owns 93,024 shares of the software maker’s stock valued at $9,688,000 after buying an additional 15,164 shares during the period. XTX Topco Ltd boosted its stake in shares of Agilysys by 20.1% in the 2nd quarter. XTX Topco Ltd now owns 3,401 shares of the software maker’s stock valued at $354,000 after purchasing an additional 570 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Agilysys during the 2nd quarter worth about $681,000. Public Employees Retirement Association of Colorado acquired a new position in Agilysys in the second quarter valued at about $268,000. Finally, Sei Investments Co. boosted its holdings in shares of Agilysys by 32.8% in the 2nd quarter. Sei Investments Co. now owns 55,032 shares of the software maker’s stock worth $5,731,000 after acquiring an additional 13,595 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors.

Agilysys Price Performance

The stock has a fifty day moving average of $131.84 and a two-hundred day moving average of $116.90. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 120.36 and a beta of 0.94.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $73,149.20 billion. Agilysys had a return on equity of 9.44% and a net margin of 8.45%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. As a group, equities research analysts forecast that Agilysys, Inc. will post 0.81 earnings per share for the current year.

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.