Oppenheimer Boosts Agilysys (NASDAQ:AGYS) Price Target to $150.00

Agilysys (NASDAQ:AGYS) had its target price boosted by investment analysts at Oppenheimer from $135.00 to $150.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price objective points to a potential upside of 11.63% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Needham & Company LLC increased their target price on Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Northland Securities reiterated an “outperform” rating and issued a $145.00 price objective (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, BTIG Research lifted their price target on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Agilysys currently has an average rating of “Moderate Buy” and a consensus price target of $137.80.

Agilysys Price Performance

NASDAQ:AGYS traded up $2.13 during trading hours on Tuesday, hitting $134.37. The company’s stock had a trading volume of 5,827 shares, compared to its average volume of 215,447. The company has a market capitalization of $3.76 billion, a P/E ratio of 38.28 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. Agilysys has a twelve month low of $73.52 and a twelve month high of $139.99. The stock has a fifty day simple moving average of $116.42 and a 200-day simple moving average of $108.13.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The firm had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, analysts anticipate that Agilysys will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $137.86, for a total transaction of $68,930.00. Following the completion of the sale, the director now directly owns 34,654 shares in the company, valued at approximately $4,777,400.44. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $106.78, for a total value of $1,067,800.00. Following the completion of the transaction, the chief executive officer now directly owns 758,367 shares in the company, valued at $80,978,428.26. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,523 shares of company stock worth $2,971,199. 19.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agilysys

Several large investors have recently added to or reduced their stakes in the business. Fred Alger Management LLC boosted its position in shares of Agilysys by 1.9% during the second quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock valued at $97,689,000 after buying an additional 17,898 shares during the last quarter. State Street Corp increased its stake in Agilysys by 5.0% in the 3rd quarter. State Street Corp now owns 918,823 shares of the software maker’s stock valued at $100,124,000 after buying an additional 43,760 shares during the last quarter. Geneva Capital Management LLC lifted its position in shares of Agilysys by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker’s stock worth $73,597,000 after buying an additional 2,687 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Agilysys by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock worth $57,614,000 after buying an additional 30,655 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Agilysys by 1,197.1% in the third quarter. FMR LLC now owns 505,690 shares of the software maker’s stock valued at $55,105,000 after acquiring an additional 466,704 shares in the last quarter. Institutional investors own 88.00% of the company’s stock.

About Agilysys

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.