Agilysys (NASDAQ:AGYS) Downgraded to Buy at BidaskClub

BidaskClub downgraded shares of Agilysys (NASDAQ:AGYS) from a strong-buy rating to a buy rating in a research report report published on Tuesday, BidAskClub reports.

Other analysts have also issued reports about the stock. Maxim Group upped their price target on shares of Agilysys to $25.00 and gave the stock a buy rating in a research note on Thursday, March 21st. Northland Securities initiated coverage on shares of Agilysys in a research note on Friday, March 29th. They issued an outperform rating and a $26.00 price target for the company. Finally, Zacks Investment Research lowered shares of Agilysys from a hold rating to a sell rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $25.50.

Shares of NASDAQ:AGYS opened at $21.99 on Tuesday. The company has a market capitalization of $516.66 million, a PE ratio of -38.58 and a beta of 0.35. Agilysys has a twelve month low of $13.32 and a twelve month high of $22.94.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Thursday, May 16th. The software maker reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The company had revenue of $36.62 million during the quarter, compared to analyst estimates of $36.80 million. Agilysys had a negative return on equity of 12.49% and a negative net margin of 9.35%. During the same period in the prior year, the company posted ($0.06) earnings per share. Research analysts anticipate that Agilysys will post -0.56 earnings per share for the current year.

In other news, major shareholder Bermuda One Fund Llc sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $20.78, for a total value of $83,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 382,251 shares of company stock valued at $7,893,527. Company insiders own 26.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC acquired a new stake in Agilysys during the first quarter valued at approximately $28,000. Federated Investors Inc. PA acquired a new stake in Agilysys during the first quarter valued at approximately $37,000. LS Investment Advisors LLC acquired a new stake in Agilysys during the fourth quarter valued at approximately $45,000. BNP Paribas Arbitrage SA lifted its stake in Agilysys by 1,508.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,232 shares of the software maker’s stock valued at $68,000 after purchasing an additional 3,031 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Agilysys during the fourth quarter valued at approximately $72,000. 77.65% of the stock is owned by institutional investors and hedge funds.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. The company offers point-of-sale, property management, reservation and table management, inventory and procurement, workforce management, analytics, document management, and mobile and wireless solutions to streamline operations, and enhance efficiency and guest experience.

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