Agilysys (NASDAQ:AGYS) Lowered to Buy at BidaskClub

Agilysys (NASDAQ:AGYS) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday, BidAskClub reports.

A number of other research firms have also recently weighed in on AGYS. Maxim Group boosted their price objective on shares of Agilysys to $25.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Northland Securities initiated coverage on shares of Agilysys in a research report on Friday, March 29th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Agilysys from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Agilysys currently has an average rating of “Buy” and an average target price of $25.50.

AGYS stock opened at $22.27 on Tuesday. Agilysys has a twelve month low of $13.32 and a twelve month high of $22.94. The firm has a market cap of $516.66 million, a price-to-earnings ratio of -39.07 and a beta of 0.35.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Thursday, May 16th. The software maker reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.07). Agilysys had a negative net margin of 9.35% and a negative return on equity of 12.49%. The firm had revenue of $36.62 million for the quarter, compared to the consensus estimate of $36.80 million. During the same quarter last year, the firm earned ($0.06) EPS. On average, equities research analysts expect that Agilysys will post -0.56 EPS for the current fiscal year.

In other Agilysys news, major shareholder Bermuda One Fund Llc sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $20.78, for a total transaction of $83,120.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 382,251 shares of company stock worth $7,893,527 in the last quarter. Company insiders own 26.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank grew its holdings in shares of Agilysys by 3.3% in the first quarter. Comerica Bank now owns 17,520 shares of the software maker’s stock worth $347,000 after purchasing an additional 567 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Agilysys by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 143,261 shares of the software maker’s stock worth $2,054,000 after purchasing an additional 800 shares during the last quarter. Stone Ridge Asset Management LLC grew its holdings in shares of Agilysys by 3.5% in the fourth quarter. Stone Ridge Asset Management LLC now owns 34,701 shares of the software maker’s stock worth $498,000 after purchasing an additional 1,179 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Agilysys in the first quarter worth about $28,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Agilysys by 5.3% in the first quarter. Wells Fargo & Company MN now owns 30,103 shares of the software maker’s stock worth $637,000 after purchasing an additional 1,516 shares during the last quarter. Hedge funds and other institutional investors own 77.65% of the company’s stock.

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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