Agilysys (AGYS) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a buy rating in a research note released on Saturday.

Separately, TheStreet raised shares of Agilysys from a d+ rating to a c- rating in a research report on Monday, August 14th.

Agilysys (NASDAQ:AGYS) traded down $0.06 on Friday, hitting $12.42. 41,158 shares of the company were exchanged, compared to its average volume of 58,612. Agilysys has a one year low of $8.60 and a one year high of $12.98.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Agilysys had a negative net margin of 10.33% and a negative return on equity of 11.69%. The firm had revenue of $30.13 million for the quarter. During the same quarter in the prior year, the firm earned ($0.11) earnings per share.

In related news, CEO Ramesh Srinivasan acquired 50,000 shares of the stock in a transaction on Friday, November 10th. The shares were acquired at an average price of $11.77 per share, with a total value of $588,500.00. Following the completion of the transaction, the chief executive officer now owns 35,000 shares in the company, valued at approximately $411,950. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith M. Kolerus acquired 9,934 shares of the stock in a transaction on Friday, September 15th. The stock was bought at an average cost of $10.57 per share, for a total transaction of $105,002.38. Following the transaction, the director now owns 145,245 shares of the company’s stock, valued at approximately $1,535,239.65. The disclosure for this purchase can be found here. Insiders own 34.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AGYS. 22NW LP bought a new stake in Agilysys in the third quarter worth about $1,821,000. Archon Capital Management LLC raised its position in Agilysys by 12.5% in the third quarter. Archon Capital Management LLC now owns 1,180,204 shares of the software maker’s stock worth $14,103,000 after acquiring an additional 131,057 shares during the period. Lapides Asset Management LLC raised its position in Agilysys by 11.0% in the second quarter. Lapides Asset Management LLC now owns 1,114,700 shares of the software maker’s stock worth $11,281,000 after acquiring an additional 110,500 shares during the period. Algert Global LLC bought a new stake in Agilysys in the third quarter worth about $470,000. Finally, Dimensional Fund Advisors LP raised its position in Agilysys by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,892,584 shares of the software maker’s stock worth $19,153,000 after acquiring an additional 29,361 shares during the period. 83.61% of the stock is currently owned by institutional investors and hedge funds.

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Agilysys Company Profile

Agilysys, Inc is a technology company. The Company provides software for point-of-sale (POS), property management, inventory and procurement, workforce management, analytics, document management, and mobile and wireless solutions and services to the hospitality industry. The Company serves four market sectors: gaming, both corporate and tribal; hotels, resorts and cruise; foodservice management, and restaurants, universities, stadia and healthcare.

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