Agilysys (NASDAQ:AGYS) Stock Price Down 4% Following Insider Selling

Agilysys, Inc. (NASDAQ:AGYS)’s share price dropped 4% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $131.99 and last traded at $132.21. Approximately 32,406 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 216,228 shares. The stock had previously closed at $137.72.

Specifically, Director John Mutch sold 500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $137.86, for a total transaction of $68,930.00. Following the sale, the director now owns 34,654 shares of the company’s stock, valued at $4,777,400.44. This represents a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

AGYS has been the subject of a number of research analyst reports. BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Northland Securities reiterated an “outperform” rating and issued a $145.00 price objective (up from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. Needham & Company LLC boosted their target price on Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. StockNews.com cut Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Oppenheimer boosted their price objective on Agilysys from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.80.

Agilysys Stock Performance

The stock has a market cap of $3.74 billion, a P/E ratio of 38.15 and a beta of 0.85. The stock has a fifty day simple moving average of $114.75 and a 200-day simple moving average of $107.15. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The business had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. During the same quarter last year, the firm earned $0.25 EPS. Agilysys’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts expect that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agilysys

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after buying an additional 154 shares during the period. CWM LLC raised its position in shares of Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after purchasing an additional 199 shares during the period. Larson Financial Group LLC bought a new position in shares of Agilysys during the 2nd quarter valued at about $32,000. Advisors Asset Management Inc. grew its position in shares of Agilysys by 117.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after purchasing an additional 182 shares during the period. Finally, NBC Securities Inc. bought a new stake in Agilysys during the 3rd quarter worth approximately $46,000. 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.