Agilysys (NASDAQ:AGYS) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a buy rating in a research note released on Friday morning, BidAskClub reports.

A number of other brokerages have also weighed in on AGYS. Northland Securities reaffirmed a buy rating and set a $40.00 target price on shares of Aridis Pharmaceuticals in a research note on Friday, March 29th. Zacks Investment Research lowered shares of H&E Equipment Services from a hold rating to a sell rating in a research note on Wednesday, July 17th. Finally, Maxim Group set a $25.00 target price on shares of Agilysys and gave the company a buy rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $25.67.

Shares of Agilysys stock opened at $22.96 on Friday. The company has a market cap of $542.98 million, a price-to-earnings ratio of -40.28 and a beta of 0.32. Agilysys has a 12-month low of $13.32 and a 12-month high of $23.64. The stock has a fifty day moving average price of $22.30.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Thursday, May 16th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The firm had revenue of $36.62 million during the quarter, compared to the consensus estimate of $36.80 million. Agilysys had a negative return on equity of 12.49% and a negative net margin of 9.35%. During the same period last year, the business earned ($0.06) EPS. Analysts anticipate that Agilysys will post -0.34 earnings per share for the current year.

In other news, major shareholder Bermuda One Fund Llc sold 17,400 shares of Agilysys stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $18.89, for a total transaction of $328,686.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 488,851 shares of company stock worth $10,406,675 in the last ninety days. Insiders own 16.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Agilysys by 1.2% during the 4th quarter. BlackRock Inc. now owns 2,569,881 shares of the software maker’s stock valued at $36,854,000 after acquiring an additional 30,687 shares during the period. William Blair Investment Management LLC lifted its position in Agilysys by 8.7% during the 1st quarter. William Blair Investment Management LLC now owns 1,179,416 shares of the software maker’s stock valued at $24,968,000 after acquiring an additional 94,595 shares during the period. Acadian Asset Management LLC lifted its position in Agilysys by 21.4% during the 1st quarter. Acadian Asset Management LLC now owns 212,618 shares of the software maker’s stock valued at $4,502,000 after acquiring an additional 37,549 shares during the period. Cortina Asset Management LLC lifted its position in Agilysys by 74.8% during the 2nd quarter. Cortina Asset Management LLC now owns 202,734 shares of the software maker’s stock valued at $4,353,000 after acquiring an additional 86,730 shares during the period. Finally, Geode Capital Management LLC lifted its position in Agilysys by 7.9% during the 4th quarter. Geode Capital Management LLC now owns 198,894 shares of the software maker’s stock valued at $2,851,000 after acquiring an additional 14,530 shares during the period. 78.02% of the stock is owned by institutional investors.

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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