Pegasystems Inc. (PEGA) Downgraded by BidaskClub to “Buy”

BidaskClub downgraded shares of Pegasystems Inc. (NASDAQ:PEGA) from a strong-buy rating to a buy rating in a research report released on Wednesday.

Other research analysts have also issued research reports about the company. TheStreet upgraded Pegasystems from a c+ rating to a b rating in a research report on Friday, February 24th. Benchmark Co. upgraded Pegasystems from a hold rating to a buy rating and raised their price objective for the company from $34.00 to $52.00 in a report on Tuesday, March 7th. JMP Securities restated an outperform rating and issued a $63.00 price objective (up previously from $55.00) on shares of Pegasystems in a report on Wednesday, June 7th. Wedbush restated an outperform rating and issued a $60.00 price objective (down previously from $67.00) on shares of Pegasystems in a report on Tuesday, June 6th. Finally, Zacks Investment Research lowered Pegasystems from a hold rating to a sell rating in a report on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Pegasystems presently has a consensus rating of Buy and a consensus target price of $53.80.

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

Pegasystems (PEGA) opened at 60.25 on Wednesday. The company has a 50 day moving average of $55.58 and a 200-day moving average of $44.27. Pegasystems has a 12-month low of $24.71 and a 12-month high of $64.85. The stock has a market cap of $4.65 billion, a P/E ratio of 110.55 and a beta of 1.45.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, May 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.16. Pegasystems had a return on equity of 14.77% and a net margin of 5.26%. The firm had revenue of $223.20 million for the quarter, compared to analyst estimates of $200.52 million. During the same quarter last year, the firm posted $0.23 EPS. The business’s revenue was up 24.8% on a year-over-year basis. Equities analysts forecast that Pegasystems will post $1.06 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, July 3rd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. Pegasystems’s payout ratio is currently 23.08%.

In other Pegasystems news, VP Michael R. Pyle sold 1,860 shares of the firm’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $43.16, for a total value of $80,277.60. Following the transaction, the vice president now owns 28,554 shares in the company, valued at approximately $1,232,390.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Jones sold 19,600 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $55.65, for a total value of $1,090,740.00. Following the completion of the transaction, the director now owns 569,769 shares in the company, valued at approximately $31,707,644.85. The disclosure for this sale can be found here. Insiders sold a total of 43,576 shares of company stock worth $2,445,526 in the last 90 days. 53.61% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC increased its stake in shares of Pegasystems by 54.6% in the fourth quarter. Teachers Advisors LLC now owns 107,736 shares of the technology company’s stock worth $3,878,000 after buying an additional 38,047 shares during the period. USA Financial Portformulas Corp bought a new stake in shares of Pegasystems during the fourth quarter worth about $317,000. Norges Bank bought a new stake in shares of Pegasystems during the fourth quarter worth about $9,798,000. Ranger Investment Management L.P. increased its stake in shares of Pegasystems by 12.4% in the fourth quarter. Ranger Investment Management L.P. now owns 980,152 shares of the technology company’s stock worth $35,285,000 after buying an additional 108,197 shares during the period. Finally, Tyers Asset Management LLC bought a new stake in shares of Pegasystems during the fourth quarter worth about $1,700,000. Institutional investors own 44.12% 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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PEGA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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