Craig Hallum Initiates Coverage on Agilysys (NASDAQ:AGYS)

Analysts at Craig Hallum assumed coverage on shares of Agilysys (NASDAQ:AGYS) in a research report issued on Tuesday, The Fly reports. The firm set a “buy” rating on the software maker’s stock.

A number of other equities analysts also recently weighed in on the company. BidaskClub downgraded Agilysys from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Zacks Investment Research downgraded Agilysys from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. National Securities began coverage on Agilysys in a report on Wednesday, October 16th. They set a “buy” rating on the stock. Northland Securities reissued a “buy” rating and issued a $32.00 price objective on shares of Agilysys in a research report on Friday, October 25th. Finally, ValuEngine upgraded Agilysys from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.33.

Agilysys stock opened at $24.73 on Tuesday. The firm has a market capitalization of $599.27 million, a price-to-earnings ratio of -43.39 and a beta of 0.25. The firm’s fifty day moving average price is $25.15 and its two-hundred day moving average price is $24.62. Agilysys has a 1-year low of $13.32 and a 1-year high of $29.29. The company has a current ratio of 1.38, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Thursday, October 24th. The software maker reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Agilysys had a negative net margin of 7.99% and a negative return on equity of 12.04%. The company had revenue of $40.72 million during the quarter, compared to analysts’ expectations of $38.17 million. On average, research analysts forecast that Agilysys will post -0.21 EPS for the current year.

In other news, CEO Ramesh Srinivasan purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $25.13 per share, with a total value of $251,300.00. Following the completion of the acquisition, the chief executive officer now owns 165,348 shares in the company, valued at approximately $4,155,195.24. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jebaseelan Kingsley acquired 2,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $25.59 per share, for a total transaction of $51,180.00. Following the transaction, the vice president now directly owns 11,630 shares of the company’s stock, valued at approximately $297,611.70. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP bought a new position in shares of Agilysys in the first quarter worth approximately $243,000. Strs Ohio increased its holdings in shares of Agilysys by 222.0% in the 2nd quarter. Strs Ohio now owns 29,300 shares of the software maker’s stock worth $629,000 after buying an additional 20,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Agilysys in the 2nd quarter worth $65,000. KBC Group NV raised its position in shares of Agilysys by 929.0% during the 2nd quarter. KBC Group NV now owns 12,338 shares of the software maker’s stock valued at $265,000 after buying an additional 11,139 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in shares of Agilysys during the 2nd quarter valued at $59,000. Hedge funds and other institutional investors own 84.24% of the company’s stock.

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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