Agilysys, Inc. (NASDAQ:AGYS) Given Average Rating of “Strong Buy” by Brokerages

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

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

Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Maxim Group set a $28.00 target price on shares of Agilysys and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, BidaskClub raised shares of Agilysys from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

AGYS stock traded up $0.26 during trading hours on Friday, hitting $27.22. The company’s stock had a trading volume of 4,073 shares, compared to its average volume of 132,694. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.37 and a quick ratio of 1.34. The stock has a market cap of $649.42 million, a P/E ratio of -47.79 and a beta of 0.31. Agilysys has a 12 month low of $13.32 and a 12 month high of $27.83. The stock has a 50 day moving average of $23.81.

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

In other Agilysys news, major shareholder Bermuda One Fund Llc sold 4,300 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $96,750.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ramesh Srinivasan bought 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $24.59 per share, for a total transaction of $270,490.00. Following the completion of the acquisition, the chief executive officer now directly owns 155,348 shares in the company, valued at approximately $3,820,007.32. The disclosure for this purchase can be found here. Insiders sold 375,000 shares of company stock valued at $8,213,877 over the last 90 days. 16.00% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Agilysys by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 198,894 shares of the software maker’s stock worth $2,851,000 after purchasing an additional 14,530 shares in the last quarter. Principal Financial Group Inc. grew its stake in Agilysys by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 143,261 shares of the software maker’s stock valued at $2,054,000 after purchasing an additional 800 shares during the period. Bank of America Corp DE grew its stake in Agilysys by 24.6% in the 4th quarter. Bank of America Corp DE now owns 18,022 shares of the software maker’s stock valued at $259,000 after purchasing an additional 3,561 shares during the period. MetLife Investment Advisors LLC bought a new position in Agilysys in the 4th quarter valued at $104,000. Finally, Metropolitan Life Insurance Co. NY bought a new position in Agilysys in the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 77.58% 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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