Agilysys (NASDAQ:AGYS) Posts Earnings Results, Beats Expectations By $0.02 EPS

Agilysys (NASDAQ:AGYS – Get Rating) announced its quarterly earnings data on Tuesday. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02, Briefing.com reports. Agilysys had a return on equity of 24.56% and a net margin of 5.59%. The business had revenue of $49.92 million during the quarter, compared to analysts’ expectations of $48.12 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. Agilysys updated its FY 2023 guidance to EPS.

Agilysys Stock Performance

NASDAQ:AGYS traded down $2.85 on Wednesday, reaching $79.04. The company’s stock had a trading volume of 10,440 shares, compared to its average volume of 151,577. Agilysys has a 1-year low of $31.49 and a 1-year high of $84.13. The firm has a market cap of $1.98 billion, a PE ratio of 231.26 and a beta of 0.92. The business’s 50-day moving average price is $72.80 and its two-hundred day moving average price is $60.11.

Wall Street Analyst Weigh In

AGYS has been the subject of a number of analyst reports. BTIG Research lifted their price objective on Agilysys from $83.00 to $95.00 in a research note on Wednesday. StockNews.com started coverage on Agilysys in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Craig Hallum boosted their target price on Agilysys from $80.00 to $100.00 in a research note on Wednesday. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, Agilysys has a consensus rating of “Buy” and a consensus price target of $79.75.

Insider Buying and Selling at Agilysys

In other Agilysys news, SVP Prabuddha Biswas sold 1,000 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $64.52, for a total value of $64,520.00. Following the completion of the transaction, the senior vice president now directly owns 73,965 shares of the company’s stock, valued at $4,772,221.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 22.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AGYS. Wasatch Advisors Inc. boosted its position in shares of Agilysys by 34.3% during the first quarter. Wasatch Advisors Inc. now owns 496,755 shares of the software maker’s stock worth $19,811,000 after buying an additional 126,969 shares during the period. Vanguard Group Inc. raised its holdings in Agilysys by 3.9% during the third quarter. Vanguard Group Inc. now owns 1,716,952 shares of the software maker’s stock worth $95,034,000 after acquiring an additional 64,115 shares in the last quarter. Northern Trust Corp raised its holdings in Agilysys by 11.7% during the first quarter. Northern Trust Corp now owns 487,282 shares of the software maker’s stock worth $19,433,000 after acquiring an additional 51,034 shares in the last quarter. BlackRock Inc. raised its holdings in Agilysys by 1.6% during the first quarter. BlackRock Inc. now owns 3,157,975 shares of the software maker’s stock worth $125,939,000 after acquiring an additional 50,734 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Agilysys during the second quarter worth about $2,302,000. 97.78% of the stock is owned by institutional investors and hedge funds.

About Agilysys

(Get Rating)

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. It offers point of sale, property management systems, inventory and procurement, payments, reservations management, and seat solutions to enhance guest experience.