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 equities research analysts have also issued reports on PEGA. Wedbush reissued an “outperform” rating and issued a $32.00 price target on shares of Pegasystems in a report on Tuesday, September 20th. TheStreet lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Finally, JMP Securities reaffirmed a “buy” rating on shares of Pegasystems in a report on Wednesday, June 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.67.
Pegasystems (NASDAQ:PEGA) opened at 29.22 on Wednesday. The stock has a 50 day moving average of $27.22 and a 200-day moving average of $26.66. The company has a market capitalization of $2.23 billion, a P/E ratio of 57.29 and a beta of 1.71. Pegasystems has a 52-week low of $20.38 and a 52-week high of $30.23.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The firm had revenue of $189 million for the quarter, compared to analyst estimates of $185.19 million. Pegasystems had a net margin of 5.44% and a return on equity of 16.25%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, equities analysts forecast that Pegasystems will post $0.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.12 annualized dividend and a yield of 0.41%. Pegasystems’s dividend payout ratio (DPR) is 24.00%.
In related news, Director Richard H. Jones sold 7,300 shares of the company’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $28.06, for a total transaction of $204,838.00. Following the transaction, the director now owns 628,509 shares in the company, valued at approximately $17,635,962.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard H. Jones sold 1,500 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $27.53, for a total transaction of $41,295.00. Following the transaction, the director now owns 633,509 shares in the company, valued at approximately $17,440,502.77. The disclosure for this sale can be found here. Corporate insiders own 53.44% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of Pegasystems during the second quarter valued at about $292,000. Sensato Investors LLC increased its position in Pegasystems by 69.5% in the first quarter. Sensato Investors LLC now owns 367,077 shares of the company’s stock worth $9,316,000 after buying an additional 150,489 shares during the last quarter. Renaissance Technologies LLC increased its position in Pegasystems by 54.3% in the first quarter. Renaissance Technologies LLC now owns 445,424 shares of the company’s stock worth $11,305,000 after buying an additional 156,700 shares during the last quarter. HBK Investments L P increased its position in Pegasystems by 79.5% in the first quarter. HBK Investments L P now owns 28,300 shares of the company’s stock worth $718,000 after buying an additional 12,538 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Pegasystems by 60.5% in the first quarter. Goldman Sachs Group Inc. now owns 124,711 shares of the company’s stock worth $3,165,000 after buying an additional 47,005 shares during the last quarter. Institutional investors and hedge funds own 41.74% of the company’s stock.
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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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