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Equities research analysts at Merriman Capital began coverage on shares of Pegasystems (NASDAQ:PEGA) in a research note issued to investors on Thursday, Stock Ratings News reports. The firm set a “buy” rating and a $24.00 price target on the stock. Merriman Capital’s price objective suggests a potential upside of 30.93% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Pegasystems from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $19.90 price target on the stock. Separately, analysts at TheStreet downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.82.

Pegasystems (NASDAQ:PEGA) traded up 0.76% during mid-day trading on Thursday, hitting $18.47. The stock had a trading volume of 70,598 shares. Pegasystems has a 1-year low of $15.155 and a 1-year high of $25.765. The stock has a 50-day moving average of $17.34 and a 200-day moving average of $21.10. The company has a market cap of $1.408 billion and a P/E ratio of 37.41.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.03. The company had revenue of $142.20 million for the quarter, compared to the consensus estimate of $136.60 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 22.3% on a year-over-year basis. Analysts expect that Pegasystems will post $0.79 EPS for the current fiscal year.

Pegasystems Inc develops, markets, licenses, and supports software, which allows organizations to build, deploy, and change enterprise applications.

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