Zacks: Agilysys, Inc. (NASDAQ:AGYS) Given $27.00 Consensus Target Price by Brokerages

Agilysys, Inc. (NASDAQ:AGYS) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus price objective of $27.00 for the company and are anticipating that the company will post ($0.09) earnings per share for the current quarter, according to Zacks. Zacks has also given Agilysys an industry rank of 161 out of 256 based on the ratings given to related companies.

A number of research firms have recently commented on AGYS. BidaskClub upgraded Agilysys from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Maxim Group set a $28.00 target price on Agilysys and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research cut Agilysys from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

AGYS traded up $0.26 during midday trading on Friday, hitting $27.22. 4,073 shares of the company were exchanged, compared to its average volume of 132,694. The business has a 50 day moving average of $23.81. The stock has a market cap of $649.42 million, a price-to-earnings ratio of -47.79 and a beta of 0.31. The company has a quick ratio of 1.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.12. Agilysys has a 1-year low of $13.32 and a 1-year high of $27.83.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The company had revenue of $38.39 million for the quarter, compared to the consensus estimate of $37.92 million. Agilysys had a negative return on equity of 12.64% and a negative net margin of 8.95%. On average, research analysts anticipate that Agilysys will post -0.34 EPS for the current fiscal year.

In other news, CEO Ramesh Srinivasan acquired 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of $24.59 per share, for a total transaction of $270,490.00. Following the acquisition, the chief executive officer now owns 155,348 shares in the company, valued at approximately $3,820,007.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bermuda One Fund Llc sold 74,200 shares of Agilysys stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $21.48, for a total value of $1,593,816.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,000 shares of company stock worth $8,213,877. 16.00% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of AGYS. BlackRock Inc. lifted its stake in Agilysys by 7.4% in the 2nd quarter. BlackRock Inc. now owns 2,703,535 shares of the software maker’s stock worth $58,044,000 after purchasing an additional 185,201 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Agilysys by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,251,824 shares of the software maker’s stock valued at $26,876,000 after buying an additional 53,960 shares during the period. William Blair Investment Management LLC raised its position in shares of Agilysys by 8.7% during the 1st quarter. William Blair Investment Management LLC now owns 1,179,416 shares of the software maker’s stock valued at $24,968,000 after buying an additional 94,595 shares during the period. Acadian Asset Management LLC raised its position in shares of Agilysys by 26.9% during the 2nd quarter. Acadian Asset Management LLC now owns 269,826 shares of the software maker’s stock valued at $5,794,000 after buying an additional 57,208 shares during the period. Finally, Northern Trust Corp raised its position in shares of Agilysys by 6.2% during the 2nd quarter. Northern Trust Corp now owns 226,280 shares of the software maker’s stock valued at $4,859,000 after buying an additional 13,130 shares during the period. Institutional investors own 77.58% of the company’s stock.

Agilysys Company Profile

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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