Growth Story Still Intact For Agilysys Inc. (AGYS)

BlackRock Fund Advisors has recently announced that it has increased stake in Agilysys Inc. (NASDAQ:AGYS) by 0.01%. After grabbing 2.92 million shares, the institutional investor is now in possession of 352.0 shares of the Technology Company. The new investment brought the stake of investor firm to 11.67% having worth around $231.43 million. Moreover, The Vanguard Group, Inc. increased its share by 60948.0 to have a control over 1.66 million shares. And Artisan Partners LP raised its holdings to 73378.0 shares by acquiring 1.42 million shares or 5.67% of the stake.

Agilysys Inc. (AGYS) concluded trading on 01/19/23 at a closing price of $77.71, with 0.15 million shares of worth about $11.51 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 53.33% during that period and on Thursday the price saw a loss of about -1.11%. Currently the company’s common shares owned by public are about 24.65M shares, out of which, 23.93M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the AGYS stock and their offered price forecasts bring an average price target of $84.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $90.00 and could fall to a lowest price of $80.00. The stock’s current price level is 7.85% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.86% for the stock. However, touching the estimated high of $90.00 would mean a gain of 13.66% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 58 times over the past 12 months. They bought 77,155 shares in 28 of the transactions. In 30 selling transactions, insiders dumped 45,827 shares.

iShares Core S&P Small Cap ETF, Artisan International Small-Mid F, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Agilysys Inc. iShares Core S&P Small Cap ETF is currently holding 1.47 million shares of worth totaling $116.4 million. The company recently came selling 5216.0 shares which brought its stake up to 5.87% of the company’s outstanding shares. Artisan International Small-Mid F sold 57836.0 shares, after which its hold over company’s outstanding shares shrunk to 3.43%, leaving 0.86 million shares with the mutual fund that have a worth of about $68.01 million. Vanguard Total Stock Market Index, after buying 0.6 million shares, have now control over 2.41% of the stake in the company. It holds 0.0 shares of worth $47.77 million.

Agilysys Inc. (NASDAQ: AGYS) started trading at $78.93, above $0.35 from concluding price of the previous day. However, the stock later moved at a day high price of 80.14, or with a loss of -1.11%. Stock saw a price change of -3.07% in past 5 days and over the past one month there was a price change of 1.58%. Year-to-date (YTD), AGYS shares are showing a performance of -1.81% which increased to 99.21% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $31.49 but also hit the highest price of $84.13 during that period. The average intraday trading volume for Agilysys Inc. shares is 160.40K. The stock is currently trading -1.32% below its 20-day simple moving average (SMA20), while that difference is up 10.10% for SMA50 and it goes to 47.68% higher than SMA200.

BlackRock Fund Advisors acquired 2.92 million shares of Agilysys Inc. having value of about $231.43 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 352.0 shares in the company valued at close to $27353.92, or have control over 0.01% stake in the company. Holding of mutual funds in the company is about 47.74% while other institutional holders and individual stake holders have control over 48.99% and 43.54% of the stake respectively.

The stock has a current market capitalization of $1.87B and its 3Y-monthly beta is at 0.95. PE ratio of stock for trailing 12 months is 239.85, while it has posted earnings per share of $0.32 in the same period. Its PEG reads 4796.91 and has Quick Ratio of 2.00 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AGYS, volatility over the week remained 3.86% while standing at 3.98% over the month.

Analysts are in expectations that Agilysys Inc. (AGYS) stock would likely to be making an EPS of $0.21 in the current quarter, while forecast for next quarter EPS is $0.24 and it is $1.01 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.18 which is $0.24 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.19 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 118.10% while it is estimated to increase by 13.53% in next year. EPS is likely to shrink at an annualized rate of 0.05% for next 5-years, compared to annual growth of 18.70% made by the stock over the past 5-years.

Analysts at 3 brokerage firms have issued recommendations for the Agilysys Inc. (AGYS)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 3 Wall Street analysts, 3 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BTIG Research on December 16, 2022 offering a Buy rating for the stock and assigned a target price of $83 to it. Coverage by Craig Hallum stated Agilysys Inc. (AGYS) stock as a Buy in their note to investors on October 26, 2022, suggesting a price target of $65 for the stock. On July 27, 2022, Craig Hallum Downgrade their recommendations, while on October 29, 2021, Maxim Group Upgrade their ratings for the stock with a price target of $65. Stock get a Buy rating from Craig Hallum on May 19, 2021.