Agilysys (NASDAQ:AGYS) Price Target Raised to $120.00

Agilysys (NASDAQ:AGYS) had its target price boosted by Piper Sandler from $110.00 to $120.00 in a report published on Tuesday, MarketBeat.com reports. The firm currently has an overweight rating on the software maker’s stock.

A number of other research firms have also issued reports on AGYS. Weiss Ratings raised Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Needham & Company LLC upped their price objective on Agilysys from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group set a $110.00 price objective on Agilysys in a research report on Wednesday, June 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a research note on Wednesday, June 17th. Finally, Oppenheimer boosted their target price on Agilysys from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Agilysys Price Performance

Shares of NASDAQ:AGYS opened at $107.66 on Tuesday. The stock has a market cap of $3.04 billion, a P/E ratio of 71.30 and a beta of 0.37. The firm has a fifty day moving average price of $96.95 and a 200 day moving average price of $84.76. Agilysys has a 1-year low of $61.50 and a 1-year high of $145.25.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The company had revenue of $87.68 million for the quarter, compared to analyst estimates of $85.97 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. Agilysys’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Sell-side analysts expect that Agilysys will post 1.77 EPS for the current fiscal year.

Institutional Trading of Agilysys

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Agilysys by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock valued at $286,160,000 after buying an additional 32,052 shares in the last quarter. Wasatch Advisors LP raised its position in Agilysys by 5.3% in the second quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock worth $115,204,000 after acquiring an additional 50,536 shares in the last quarter. State Street Corp raised its position in Agilysys by 0.5% in the fourth quarter. State Street Corp now owns 1,003,062 shares of the software maker’s stock worth $119,204,000 after acquiring an additional 4,516 shares in the last quarter. Capital Research Global Investors acquired a new stake in Agilysys in the fourth quarter valued at $104,878,000. Finally, Wellington Management Group LLP lifted its holdings in Agilysys by 75.9% in the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock valued at $72,675,000 after acquiring an additional 297,846 shares during the period. 88.00% of the stock is owned by institutional investors and hedge funds.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.