Zacks Investment Research downgraded shares of Agilysys (NASDAQ:AGYS) from a hold rating to a sell rating in a report issued on Monday morning, 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. “

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Northland Securities restated 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 equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Agilysys has an average rating of Buy and an average price target of $25.00.

Shares of Agilysys stock traded down $0.62 on Monday, reaching $22.28. 2,689 shares of the stock were exchanged, compared to its average volume of 94,811. Agilysys has a 1-year low of $13.32 and a 1-year high of $23.06. The stock’s fifty day simple moving average is $22.18. The firm has a market capitalization of $539.68 million, a price-to-earnings ratio of -39.23 and a beta of 0.32.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Thursday, May 16th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). Agilysys had a negative return on equity of 12.49% and a negative net margin of 9.35%. The firm had revenue of $36.62 million for the quarter, compared to analyst estimates of $36.80 million. During the same quarter last year, the firm earned ($0.06) earnings per share. On average, sell-side analysts forecast that Agilysys will post -0.56 EPS for the current year.

In other news, major shareholder Bermuda One Fund Llc sold 3,500 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $20.01, for a total value of $70,035.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 514,751 shares of company stock worth $10,911,278 over the last quarter. Company insiders own 26.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Agilysys by 1.2% in the fourth quarter. BlackRock Inc. now owns 2,569,881 shares of the software maker’s stock valued at $36,854,000 after purchasing an additional 30,687 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Agilysys by 8.7% in the first quarter. William Blair Investment Management LLC now owns 1,179,416 shares of the software maker’s stock valued at $24,968,000 after purchasing an additional 94,595 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Agilysys by 21.4% in the first quarter. Acadian Asset Management LLC now owns 212,618 shares of the software maker’s stock valued at $4,502,000 after purchasing an additional 37,549 shares during the last quarter. Cortina Asset Management LLC grew its position in shares of Agilysys by 74.8% in the second quarter. Cortina Asset Management LLC now owns 202,734 shares of the software maker’s stock valued at $4,353,000 after purchasing an additional 86,730 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Agilysys by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 198,894 shares of the software maker’s stock valued at $2,851,000 after purchasing an additional 14,530 shares during the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.

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.

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