Needham & Company LLC Has Lowered Expectations for Agilysys (NASDAQ:AGYS) Stock Price

Agilysys (NASDAQ:AGYS) had its target price cut by stock analysts at Needham & Company LLC from $125.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 24.84% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Craig Hallum lowered their price target on Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Northland Securities raised their price target on Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, Oppenheimer decreased their target price on Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Agilysys presently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Agilysys Stock Performance

Shares of AGYS opened at $80.10 on Wednesday. The company has a 50-day moving average of $104.01 and a two-hundred day moving average of $112.29. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 100.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. Agilysys has a one year low of $74.03 and a one year high of $142.64.

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

Insiders Place Their Bets

In other Agilysys news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $96.68, for a total value of $725,100.00. Following the completion of the transaction, the director now directly owns 233,076 shares in the company, valued at $22,533,787.68. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 67,500 shares of company stock worth $8,496,000. Insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Agilysys by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 2,209,274 shares of the software maker’s stock valued at $290,983,000 after acquiring an additional 58,926 shares during the period. Lord Abbett & CO. LLC grew its holdings in Agilysys by 10.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,167,685 shares of the software maker’s stock worth $153,796,000 after purchasing an additional 108,827 shares during the period. State Street Corp grew its holdings in Agilysys by 5.0% during the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after purchasing an additional 43,760 shares during the period. FMR LLC increased its position in Agilysys by 58.3% during the fourth quarter. FMR LLC now owns 800,521 shares of the software maker’s stock worth $105,437,000 after buying an additional 294,831 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Agilysys by 412.9% in the fourth quarter. Invesco Ltd. now owns 727,794 shares of the software maker’s stock valued at $95,858,000 after buying an additional 585,886 shares during the period. Institutional investors and hedge funds 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.