Agilysys (NASDAQ:AGYS) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Agilysys (NASDAQ:AGYS) from a hold rating to a sell rating in a research report report published on Monday, Zacks.com reports.

According to Zacks, “Agilysys, Inc. is a leading provider of innovative IT solutions to corporate and public-sector customers, with special expertise in select vertical markets, including retail and hospitality. The company uses technology-including hardware, software and services-to help customers resolve their most complicated IT needs. The company possesses expertise in enterprise architecture and high availability, infrastructure optimization, storage and resource management, and business continuity; and provides industry-specific software, services and expertise to the retail and hospitality markets. Headquartered in Boca Raton, Fla., Agilysys operates extensively throughout North America, with additional sales offices in the United Kingdom and China. “

AGYS has been the subject of several other reports. BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Northland Securities reissued a buy rating and set a $40.00 target price on shares of Aridis Pharmaceuticals in a research report on Friday, March 29th. Finally, Maxim Group set a $25.00 target price on shares of Agilysys and gave the stock a buy rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $25.00.

NASDAQ:AGYS opened at $22.66 on Monday. The stock’s 50-day simple moving average is $22.17. Agilysys has a one year low of $13.32 and a one year high of $23.06.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Thursday, May 16th. The software maker reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The business had revenue of $36.62 million for 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 in the previous year, the firm earned ($0.06) earnings per share. On average, research analysts anticipate that Agilysys will post -0.56 EPS for the current year.

In other news, major shareholder Bermuda One Fund Llc sold 5,400 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $22.71, for a total transaction of $122,634.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 511,251 shares of company stock valued at $10,841,243 over the last three months. Insiders own 26.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its position in shares of Agilysys by 118.6% in the 3rd quarter. Morgan Stanley now owns 143,133 shares of the software maker’s stock worth $2,333,000 after acquiring an additional 77,653 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Agilysys by 23.5% in the 4th quarter. Rhumbline Advisers now owns 49,593 shares of the software maker’s stock worth $711,000 after purchasing an additional 9,436 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Agilysys in the 4th quarter worth approximately $96,000. Prudential Financial Inc. lifted its holdings in shares of Agilysys by 5.4% in the 4th quarter. Prudential Financial Inc. now owns 30,764 shares of the software maker’s stock worth $441,000 after purchasing an additional 1,585 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Agilysys by 1.2% in the 4th quarter. BlackRock Inc. now owns 2,569,881 shares of the software maker’s stock worth $36,854,000 after purchasing an additional 30,687 shares during the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.

Agilysys Company Profile

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.

Further Reading: Book Value Per Share – BVPS

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