Pegasystems Inc. (PEGA) Downgraded by Zacks Investment Research to Hold
Pegasystems Inc. (NASDAQ:PEGA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
Other equities research analysts have also issued reports about the company. Wedbush restated an “outperform” rating and set a $50.00 price target (up from $46.00) on shares of Pegasystems in a research report on Tuesday, May 2nd. BidaskClub raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Sunday. JMP Securities reaffirmed an “outperform” rating and set a $63.00 price objective (up previously from $55.00) on shares of Pegasystems in a report on Wednesday, June 7th. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $67.00 price objective (up previously from $60.00) on shares of Pegasystems in a report on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pegasystems presently has an average rating of “Buy” and a consensus price target of $60.00.
Shares of Pegasystems (NASDAQ:PEGA) traded down 0.88% during mid-day trading on Thursday, reaching $61.80. The company’s stock had a trading volume of 176,865 shares. The company has a 50 day moving average of $59.89 and a 200-day moving average of $47.85. The firm has a market capitalization of $4.77 billion, a P/E ratio of 113.39 and a beta of 1.46. Pegasystems has a 12 month low of $24.71 and a 12 month high of $64.85.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.16. The business had revenue of $223.20 million for the quarter, compared to analyst estimates of $200.52 million. Pegasystems had a return on equity of 14.77% and a net margin of 5.26%. Pegasystems’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. Equities research analysts forecast that Pegasystems will post $1.06 EPS for the current year.
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In other news, SVP Douglas I. Kra sold 1,469 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $45.39, for a total value of $66,677.91. Following the transaction, the senior vice president now owns 23,730 shares of the company’s stock, valued at approximately $1,077,104.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael R. Pyle sold 1,824 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $46.05, for a total value of $83,995.20. Following the completion of the transaction, the vice president now directly owns 29,019 shares in the company, valued at approximately $1,336,324.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,975 shares of company stock worth $4,100,511. Company insiders own 53.61% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Suntrust Banks Inc. increased its position in Pegasystems by 3.0% in the first quarter. Suntrust Banks Inc. now owns 8,471 shares of the technology company’s stock worth $371,000 after buying an additional 250 shares during the period. US Bancorp DE increased its position in Pegasystems by 0.9% in the first quarter. US Bancorp DE now owns 19,856 shares of the technology company’s stock worth $871,000 after buying an additional 171 shares during the period. First Trust Advisors LP increased its position in Pegasystems by 33.6% in the first quarter. First Trust Advisors LP now owns 58,992 shares of the technology company’s stock worth $2,587,000 after buying an additional 14,841 shares during the period. Wells Fargo & Company MN increased its position in Pegasystems by 4.6% in the first quarter. Wells Fargo & Company MN now owns 33,155 shares of the technology company’s stock worth $1,454,000 after buying an additional 1,448 shares during the period. Finally, Strs Ohio bought a new position in Pegasystems during the first quarter worth $872,000. 44.13% of the stock is currently owned by institutional investors.
Pegasystems Company Profile
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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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