Agilysys (NASDAQ:AGYS) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Agilysys (NASDAQ:AGYS) announced its earnings results on Thursday. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02, Morningstar.com reports. Agilysys had a negative net margin of 9.35% and a negative return on equity of 12.49%. The company had revenue of $38.39 million during the quarter, compared to analyst estimates of $37.92 million. Agilysys updated its FY 2020 guidance to EPS.

NASDAQ AGYS traded up $0.57 during trading on Friday, hitting $24.10. 130,530 shares of the company’s stock traded hands, compared to its average volume of 94,154. The business’s fifty day moving average price is $22.49. Agilysys has a 12-month low of $13.32 and a 12-month high of $24.18. The firm has a market cap of $569.94 million, a price-to-earnings ratio of -42.28 and a beta of 0.32.

In other news, major shareholder Bermuda One Fund Llc sold 22,400 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.92, for a total transaction of $423,808.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 468,251 shares of company stock valued at $10,017,413. Company insiders own 16.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Agilysys by 1.2% during the fourth quarter. BlackRock Inc. now owns 2,569,881 shares of the software maker’s stock valued at $36,854,000 after acquiring an additional 30,687 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Agilysys by 8.7% during the first quarter. William Blair Investment Management LLC now owns 1,179,416 shares of the software maker’s stock valued at $24,968,000 after acquiring an additional 94,595 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Agilysys by 21.4% during the first quarter. Acadian Asset Management LLC now owns 212,618 shares of the software maker’s stock valued at $4,502,000 after acquiring an additional 37,549 shares during the last quarter. Cortina Asset Management LLC raised its stake in shares of Agilysys by 74.8% during the second quarter. Cortina Asset Management LLC now owns 202,734 shares of the software maker’s stock valued at $4,353,000 after acquiring an additional 86,730 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Agilysys by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 198,894 shares of the software maker’s stock valued at $2,851,000 after acquiring an additional 14,530 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on the stock. Maxim Group set a $25.00 price target on shares of Agilysys and gave the company a “buy” rating in a research report on Friday, May 17th. BidaskClub lowered shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Northland Securities restated a “buy” rating and set a $40.00 price target on shares of Aridis Pharmaceuticals in a research report on Friday, March 29th. Finally, Zacks Investment Research lowered shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Agilysys has a consensus rating of “Buy” and a consensus price target of $25.67.

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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Earnings History for Agilysys (NASDAQ:AGYS)

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