Agilysys (NASDAQ:AGYS) Sees Strong Trading Volume – Here’s Why

Agilysys, Inc. (NASDAQ:AGYS) saw unusually-strong trading volume on Friday . Approximately 291,289 shares changed hands during trading, an increase of 75% from the previous session’s volume of 166,391 shares.The stock last traded at $129.25 and had previously closed at $132.97.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their target price on shares of Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Oppenheimer lifted their price objective on Agilysys from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Northland Securities upped their target price on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, BTIG Research lifted their price target on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.00.

Agilysys Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. The stock has a market capitalization of $3.40 billion, a P/E ratio of 34.70 and a beta of 0.94. The stock’s fifty day moving average is $131.82 and its 200-day moving average is $116.53.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The company had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. During the same quarter in the prior year, the company posted $0.25 EPS. The firm’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts anticipate that Agilysys, Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling at Agilysys

In related news, SVP Kyle C. Badger sold 471 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $100.86, for a total transaction of $47,505.06. Following the completion of the transaction, the senior vice president now owns 115,117 shares of the company’s stock, valued at approximately $11,610,700.62. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William David Wood III sold 588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $59,305.68. Following the completion of the sale, the chief financial officer now directly owns 49,479 shares in the company, valued at $4,990,451.94. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,122 shares of company stock worth $7,099,841 over the last 90 days. Insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in Agilysys by 320.5% during the 4th quarter. SG Americas Securities LLC now owns 4,192 shares of the software maker’s stock valued at $552,000 after purchasing an additional 3,195 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Agilysys by 109.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock worth $49,000 after purchasing an additional 193 shares during the period. Albert D Mason Inc. raised its position in shares of Agilysys by 2.3% during the fourth quarter. Albert D Mason Inc. now owns 11,798 shares of the software maker’s stock valued at $1,554,000 after buying an additional 267 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Agilysys by 2.6% in the third quarter. Principal Financial Group Inc. now owns 115,901 shares of the software maker’s stock valued at $12,630,000 after buying an additional 2,949 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in Agilysys by 47.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock worth $115,383,000 after buying an additional 340,424 shares in the last quarter. 88.00% of the stock is owned by institutional investors.

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.