Key Points
- CEO Ramesh Srinivasan sold 25,000 Agilysys shares at an average price of $108.15, generating $2.70 million and reducing his direct ownership by 3.94% to 610,044 shares. He also sold more than 172,000 shares in two earlier transactions during the same week.
- Agilysys reported quarterly EPS of $0.49, beating estimates of $0.40, while revenue rose 14.3% year over year to $87.68 million. Shares opened at $108.58, with the stock up 0.9% and trading below its 12-month high of $145.25.
- Analysts maintain a generally positive view, with an average rating of “Moderate Buy” and a consensus price target of $123.60; institutional investors own approximately 88% of the company.
Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) CEO Ramesh Srinivasan sold 25,000 shares of Agilysys stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $108.15, for a total transaction of $2,703,750.00. Following the transaction, the chief executive officer directly owned 610,044 shares in the company, valued at approximately $65,976,258.60. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Ramesh Srinivasan also recently made the following trade(s):
- On Thursday, August 6th, Ramesh Srinivasan sold 106,205 shares of Agilysys stock. The stock was sold at an average price of $106.62, for a total transaction of $11,323,577.10.
- On Wednesday, August 5th, Ramesh Srinivasan sold 66,205 shares of Agilysys stock. The shares were sold at an average price of $109.63, for a total transaction of $7,258,054.15.
Agilysys Trading Up 0.9%
Shares of Agilysys stock opened at $108.58 on Friday. Agilysys, Inc. has a twelve month low of $61.50 and a twelve month high of $145.25. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 71.91 and a beta of 0.37. The company has a fifty day moving average price of $100.26 and a 200 day moving average price of $84.73.
Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate 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 return on equity of 11.94% and a net margin of 12.99%.The firm's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. Analysts forecast that Agilysys, Inc. will post 1.73 earnings per share for the current year.
Institutional Trading of Agilysys
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Agilysys in the second quarter worth about $431,704,000. Capital Research Global Investors acquired a new stake in Agilysys during the 4th quarter valued at approximately $104,878,000. Wellington Management Group LLP increased its holdings in Agilysys by 75.9% during the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker's stock worth $72,675,000 after purchasing an additional 297,846 shares during the last quarter. Wasatch Advisors LP increased its holdings in Agilysys by 33.0% during the 1st quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker's stock worth $67,848,000 after purchasing an additional 236,373 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in Agilysys during the 2nd quarter worth approximately $21,593,000. 88.00% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. Oppenheimer reissued an "outperform" rating and set a $118.00 price target on shares of Agilysys in a research report on Tuesday, July 28th. Piper Sandler increased their price objective on shares of Agilysys from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Agilysys in a research note on Tuesday, July 28th. UBS Group set a $110.00 target price on shares of Agilysys in a research report on Wednesday, June 3rd. Finally, Zacks Research downgraded shares of Agilysys from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $123.60.
Read Our Latest Research Report on AGYS
Agilysys Company Profile
(
Get Free Report)
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.
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