Oppenheimer Cuts Agilysys (NASDAQ:AGYS) Price Target to $90.00

Agilysys (NASDAQ:AGYS) had its price target reduced by Oppenheimer from $135.00 to $90.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Several other brokerages also recently weighed in on AGYS. UBS Group set a $100.00 price target on Agilysys in a research report on Wednesday, March 5th. Northland Securities raised their target price on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Needham & Company LLC decreased their price target on Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Craig Hallum lowered their price objective on Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Agilysys has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Agilysys Trading Down 1.8 %

Shares of NASDAQ:AGYS opened at $68.72 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. Agilysys has a 52-week low of $63.71 and a 52-week high of $142.64. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 85.90 and a beta of 0.64. The business has a 50-day moving average price of $77.35 and a 200-day moving average price of $105.32.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $69.60 million for the quarter, compared to the consensus estimate of $73.15 million. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. Agilysys’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. Equities analysts predict that Agilysys will post 0.8 EPS for the current year.

Insider Activity

In other Agilysys news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $132.98, for a total transaction of $997,350.00. Following the completion of the transaction, the director now owns 270,576 shares of the company’s stock, valued at $35,981,196.48. This represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Mutch sold 750 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $75.33, for a total value of $56,497.50. Following the completion of the transaction, the director now owns 31,904 shares in the company, valued at approximately $2,403,328.32. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,250 shares of company stock worth $4,784,088 over the last three months. 19.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Agilysys

Large investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC grew its position in shares of Agilysys by 64.6% in the first quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker’s stock valued at $44,000 after purchasing an additional 239 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Agilysys by 381.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock worth $57,000 after acquiring an additional 336 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Agilysys during the 4th quarter worth $61,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Agilysys during the 4th quarter valued at about $64,000. Finally, Assetmark Inc. purchased a new stake in shares of Agilysys in the fourth quarter valued at about $115,000. Hedge funds and other 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.