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Pegasystems (NASDAQ:PEGA) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research note issued on Friday.

The analysts wrote, “Pegasystems (PEGA) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”

Shares of Pegasystems (NASDAQ:PEGA) traded down 1.07% during mid-day trading on Friday, hitting $21.24. 179,646 shares of the company’s stock traded hands. Pegasystems has a 52 week low of $15.51 and a 52 week high of $25.765. The stock’s 50-day moving average is $18.12 and its 200-day moving average is $21.18. The company has a market cap of $1.619 billion and a price-to-earnings ratio of 43.82.

Pegasystems (NASDAQ:PEGA) last released its earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. Analysts expect that Pegasystems will post $0.80 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, June 27th. This is a positive change from Pegasystems’s previous quarterly dividend of $0.02.

PEGA has been the subject of a number of other recent research reports. Analysts at Wedbush upgraded shares of Pegasystems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $27.00 price target on the stock, up previously from $25.00. Separately, analysts at Merriman Capital initiated coverage on shares of Pegasystems in a research note on Thursday, May 15th. They set a “buy” rating and a $24.00 price target on the stock. Finally, 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.15.

In other Pegasystems news, Director William W. Wyman sold 7,162 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $20.99, for a total value of $150,330.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

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