Zacks Industry Outlook Highlights Seagate, Agilysys and PAR

Zacks11-21 21:48

For Immediate Release Chicago, IL – November 21, 2024 – Today, Zacks Equity Research discusses Seagate Technology STX, Agilysys AGYS and PAR Technology PAR. Industry: Technology Solutions Link: https:...

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These factors have resulted in significant order backlogs across the industry, casting a shadow on its prospects.\nIndustry Description\nThe Zacks Computer - Integrated Systems industry comprises companies that deliver advanced information technology solutions spanning computer systems, software platforms, data storage infrastructure and microelectronics. These industry players are ramping up investments in data modernization and analytics, cybersecurity and threat defense, remote work enablement, process automation, contactless service delivery models, enhanced customer and employee experience offerings and supply chain modernization initiatives aimed at accelerating digital transformation services for enterprise customers.\nSome players provide technological solutions (products and services) to help organizations connect, interact and transact with customers. Others develop and market information recognition, data entry software, systems and technologies.\n4 Computer - Integrated Systems Industry Trends in Focus\nIntegrated Solutions Driving Demand: The industry is experiencing a surge in demand for integrated solutions across enterprises of all scales, driven by increasing investments in cutting-edge software technologies, such as the Internet of Things (IoT), big data analytics, artificial intelligence (AI) and blockchain. This demand is further fueled by the significant opportunities presented by business analytics, cloud computing, mobile technologies, security solutions and social business platforms.\nAdditionally, industry players are anticipated to benefit from the recovering global IT spending, as predicted by Gartner, enabling them to capitalize on the rising demand for comprehensive and seamless integrated solutions that can streamline operations and enhance productivity across various sectors.\nSolid Adoption of Multi-Cloud Model: The industry is witnessing the robust adoption of the multi-cloud model as enterprises seek to achieve better scalability and optimize resource utilization. This trend is expanding the scope of industry participants, enabling them to leverage the benefits of cloud and hardware/software virtual technologies, which are anticipated to favor the industry's growth.\nMoreover, as growth and investment opportunities in developed countries continue to slow down, emerging economies are poised to play a crucial role in driving the industry's future. The multi-cloud model's increasing popularity, coupled with the tailwinds from cloud and virtual technologies and the potential of emerging markets, presents a strong foundation for industry participants to capitalize on new opportunities and foster sustained growth.\nSupply-Chain Bottlenecks and Backlogs: Industry participants are grappling with a multitude of challenges, including supply constraints, softening demand for servers and cognitive applications, as well as delays in customer acceptance. These factors have contributed to consistent backlog levels, particularly in the Compute, High-Performance Computing & Mass Storage Class and Storage segments. Furthermore, the industry's outlook is affected by the volatility in foreign exchange rates, primarily due to the prevailing macroeconomic scenario and headwinds in emerging markets.\nSemiconductor Chip Shortage Mars Prospects: The industry is grappling with the ripple effects of the ongoing semiconductor chip shortage, which has posed significant challenges for participants. The time-consuming business model transition to cloud computing has compounded these difficulties, requiring companies to navigate complex operational shifts amid supply chain disruptions. The prospects of industry players are further dampened by lower spending across datacenter systems, primarily due to component shortages, particularly in memory and CPUs, as well as a deceleration in hyperscale spending.\nZacks Industry Rank Indicates Bright Prospects\nThe Zacks Computer – Integrated Systems industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #79, which places it in the top 32% of more than 250 Zacks industries.\nThe group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates outperformance in the near term. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.\nThe industry’s position in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. Since Nov. 30, 2023, the industry’s earnings estimate for 2024 has moved north by 14.9%.\nBefore we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.\nIndustry Lags Sector & S&P 500\nThe Zacks Computer – Integrated Systems industry has underperformed the broader Computer and Technology sector and the Zacks S&P 500 composite in the past year.\nThe industry has returned 25.3% over this period compared with the S&P 500 and the broader Computer and Technology sector’s respective returns of 30% and 32%.\nIndustry's Current Valuation\nOn the basis of the trailing 12-month P/S, which is a commonly used multiple for valuing computer-integrated systems stocks, we see that the industry is currently trading at 4.01X compared with the S&P 500’s 5.63X. It is also below the sector’s trailing 12-month P/S of 7.59X.\nOver the past five years, the industry has traded as high as 5.07X and as low as 1.67X, with the median being 2.93X.\n3 Computer-Integrated Systems Providers to Buy\nSeagate Technology: The company has become a market leader in mass-capacity storage solutions, strategically positioned to capitalize on the exponential growth in data storage demands driven by AI, cloud computing, and data center expansion.\nThis Zacks Rank #2 (Buy) company's innovative product portfolio, particularly its cutting-edge high-capacity hard drives and enterprise storage solutions, demonstrates its technological leadership and ability to meet evolving market needs. With improving industry dynamics, a stabilizing pricing environment, and ongoing operational efficiency initiatives, Seagate is well-positioned to expand margins and drive profitability growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nThe company's robust research and development capabilities, coupled with its established relationships with major technology companies and cloud service providers, provide a strong competitive moat. Additionally, Seagate's healthy free cash flow generation, commitment to shareholder returns through dividends, and strategic focus on high-growth segments make it an attractive investment at current valuations for investors seeking exposure to the secular growth trends in data storage and digital transformation.\nThe Zacks Consensus Estimate for its fiscal 2025 earnings has moved north by 5.5% to $7.82 per share in the past 30 days. Shares of STX have returned 14.6% year to date.\nAgilysys: The company has become a leading provider of hospitality and retail software solutions, strategically positioned to capitalize on the accelerating digital transformation trends across its target markets.\nAGYS' robust portfolio of cloud-native products and comprehensive end-to-end software solutions, coupled with its exceptional customer service, has established it as a trusted partner in North America, Europe, Asia-Pacific, and India. Agilysys demonstrated its ability to achieve record-high service revenues while simultaneously improving service margins, reflecting its operational efficiency and strong market position. This Zacks Rank #2 company's specialized expertise in enterprise architecture, infrastructure optimization, storage management, and business continuity solutions provides multiple growth vectors while addressing critical client needs.\nWith its proven track record of expanding gross margins and net income profitability, combined with its strategic focus on high-growth vertical markets and continued innovation in cloud-based solutions, Agilysys offers investors exposure to the secular growth trends in hospitality technology while maintaining strong fundamentals and execution capabilities.\nThe Zacks Consensus Estimate for its fiscal 2025 earnings has increased by 9.2% to $1.31 per share in the past 30 days. Shares of AGYS have returned 45.2% year to date.\nPAR Technology: This Zacks Rank #2 company emerges as a compelling investment opportunity, leveraging its dominant position in cloud-based restaurant management solutions and strategic expansion initiatives.\nPAR's multi-faceted growth strategy encompasses its rapidly expanding Brink software business, which has already penetrated over 1,000 restaurants, alongside its established government contracts division developing advanced technology systems for the Department of Defense.\nThe strategic acquisitions of TASK Group and Stuzo Holdings significantly amplify PAR's market presence, adding 110+ enterprise customers across 70 countries and 25,000 convenience store sites while securing partnerships with industry giants like McDonald's and Starbucks. This expanded footprint, coupled with cross-selling opportunities between domestic and international markets, positions PAR advantageously in the growing unified commerce sector.\nThe company's diverse portfolio, spanning restaurant point-of-sale systems, government contracts, and specialized technology solutions, combined with its proven ability to execute strategic acquisitions, makes PAR Technologies an attractive investment for those seeking exposure to the digital transformation of the food service and retail sectors.\nThe Zacks Consensus Estimate for the company’s 2024 loss has remained steady at 83 cents per share over the past 30 days. PAR shares have gained 72.1% year to date.\nWhy Haven't You Looked at Zacks' Top Stocks?\nSince 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.\nToday you can access their live picks without cost or obligation.\nSee Stocks Free >>\nMedia Contact\nZacks Investment Research\n800-767-3771 ext. 9339\nsupport@zacks.com\nhttps://www.zacks.com\nPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSeagate Technology Holdings PLC (STX) : Free Stock Analysis Report\nPAR Technology Corporation (PAR) : Free Stock Analysis Report\nAgilysys, Inc. (AGYS) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485415271"}