Pegasystems Inc. (PEGA) Stock Rating Upgraded by Zacks Investment Research
Pegasystems Inc. (NASDAQ:PEGA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Pegasystems Inc. is a leading provider of Customer Relationship Management software that enables transaction-intensive organizations to manage a broad array of customer interactions. Their software enables organizations to deliver high-quality, consistent customer service across today’s preferred interaction channels, from the traditional call center environment to Internet self-service. The company’s customers represent a wide range of industries, including banking and financial services, insurance, healthcare management, and telecommunications. “
Several other research firms have also recently weighed in on PEGA. JMP Securities reaffirmed a “buy” rating on shares of Pegasystems in a report on Wednesday, June 8th. Wedbush reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Pegasystems in a report on Wednesday, June 8th. Finally, TheStreet cut Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $30.67.
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Shares of Pegasystems (NASDAQ:PEGA) traded down 0.68% during trading on Wednesday, reaching $29.18. The company’s stock had a trading volume of 200,106 shares. Pegasystems has a 52-week low of $20.38 and a 52-week high of $30.23. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 57.22 and a beta of 1.71. The stock’s 50 day moving average price is $27.56 and its 200-day moving average price is $26.73.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. Pegasystems had a return on equity of 16.25% and a net margin of 5.44%. The firm had revenue of $189 million for the quarter, compared to analysts’ expectations of $185.19 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. Equities analysts anticipate that Pegasystems will post $0.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. Pegasystems’s dividend payout ratio is 24.00%.
In related news, Director William W. Wyman sold 16,700 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $27.91, for a total transaction of $466,097.00. Following the transaction, the director now directly owns 16,741 shares in the company, valued at approximately $467,241.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Jones sold 7,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $28.06, for a total value of $204,838.00. Following the transaction, the director now owns 628,509 shares in the company, valued at $17,635,962.54. The disclosure for this sale can be found here. Corporate insiders own 53.44% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in Pegasystems by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 5,330 shares of the company’s stock valued at $144,000 after buying an additional 654 shares during the last quarter. Swiss National Bank raised its position in Pegasystems by 1.2% in the second quarter. Swiss National Bank now owns 65,000 shares of the company’s stock valued at $1,752,000 after buying an additional 800 shares during the last quarter. Teachers Advisors Inc. raised its position in Pegasystems by 2.0% in the first quarter. Teachers Advisors Inc. now owns 52,697 shares of the company’s stock valued at $1,337,000 after buying an additional 1,049 shares during the last quarter. Rhumbline Advisers raised its position in Pegasystems by 3.0% in the second quarter. Rhumbline Advisers now owns 39,682 shares of the company’s stock valued at $1,069,000 after buying an additional 1,157 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Pegasystems by 4.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 39,669 shares of the company’s stock valued at $1,069,000 after buying an additional 1,513 shares during the last quarter. Institutional investors and hedge funds own 41.74% of the company’s stock.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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