Agilysys (NASDAQ:AGYS) Shares Down 5.4% – Should You Sell?

Agilysys, Inc. (NASDAQ:AGYS) fell 5.4% during mid-day trading on Tuesday . The stock traded as low as $110.86 and last traded at $111.13. 52,281 shares were traded during trading, a decline of 75% from the average session volume of 212,414 shares. The stock had previously closed at $117.44.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AGYS. Northland Securities raised their target price on Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a research note on Monday, September 16th. BTIG Research increased their target price on shares of Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Craig Hallum boosted their price target on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Agilysys presently has a consensus rating of “Buy” and a consensus price target of $124.00.

Agilysys Trading Up 0.1 %

The company’s 50-day moving average price is $109.05 and its two-hundred day moving average price is $100.86. The company has a market cap of $2.99 billion, a P/E ratio of 34.42 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. The company had revenue of $63.50 million for the quarter, compared to analysts’ expectations of $64.52 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis. Equities analysts forecast that Agilysys, Inc. will post 0.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at $75,335,585.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John Mutch sold 1,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the transaction, the director now owns 36,326 shares in the company, valued at $4,129,902.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $102.03, for a total value of $1,020,300.00. Following the transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at approximately $75,335,585.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock worth $3,734,810 in the last quarter. 23.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Agilysys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its position in Agilysys by 439.5% during the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after acquiring an additional 820,840 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Agilysys by 2.1% during the first quarter. Principal Financial Group Inc. now owns 115,398 shares of the software maker’s stock worth $9,723,000 after buying an additional 2,341 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Agilysys during the first quarter worth approximately $584,000. BNP Paribas Financial Markets boosted its position in shares of Agilysys by 91.6% in the first quarter. BNP Paribas Financial Markets now owns 33,190 shares of the software maker’s stock valued at $2,797,000 after acquiring an additional 15,870 shares during the period. Finally, RiverPark Advisors LLC grew its stake in shares of Agilysys by 361.1% in the first quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock worth $149,000 after acquiring an additional 1,383 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

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.