Agilysys (NASDAQ:AGYS) Trading Down 4.5% After Analyst Downgrade

Shares of Agilysys, Inc. (NASDAQ:AGYS) traded down 4.5% during mid-day trading 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 changed 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 analysts have also recently issued reports about the stock. BTIG Research lifted their price objective on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Northland Securities boosted their price objective on shares of Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Oppenheimer cut their price target on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC dropped their price objective on Agilysys from $145.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.00.

Insider Buying and Selling at Agilysys

In other news, insider Chris J. Robertson sold 264 shares of Agilysys stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $100.86, for a total value of $26,627.04. Following the sale, the insider now directly owns 22,624 shares of the company’s stock, valued at $2,281,856.64. The trade was a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $125.49, for a total value of $941,175.00. Following the transaction, the director now owns 248,076 shares in the company, valued at approximately $31,131,057.24. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,122 shares of company stock worth $9,002,291. 19.30% of the stock is owned by corporate insiders.

Institutional Trading of Agilysys

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGYS. Advisors Asset Management Inc. lifted its holdings in Agilysys by 117.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock worth $37,000 after buying an additional 182 shares in the last quarter. GAMMA Investing LLC lifted its stake in Agilysys by 66.7% in the third quarter. GAMMA Investing LLC now owns 415 shares of the software maker’s stock worth $45,000 after acquiring an additional 166 shares during the last quarter. NBC Securities Inc. acquired a new position in Agilysys during the 3rd quarter worth approximately $46,000. Harbor Investment Advisory LLC increased its position in shares of Agilysys by 109.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock valued at $49,000 after purchasing an additional 193 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Agilysys by 76.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock valued at $52,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Trading Down 4.4 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 120.36 and a beta of 0.94. The business’s 50 day moving average is $131.84 and its 200 day moving average is $116.90.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $69.60 million during 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 revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, equities analysts expect that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

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.