Zacks Investment Research upgraded shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $64.00 price objective on the technology company’s stock.
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. “
PEGA has been the subject of several other reports. BidaskClub upgraded shares of Pegasystems from a strong sell rating to a sell rating in a research note on Wednesday, January 3rd. TheStreet cut shares of Pegasystems from a b- rating to a c rating in a research note on Wednesday, November 22nd. Finally, UBS Group reiterated an overweight rating and issued a $65.00 target price on shares of Pegasystems in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $64.83.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Monday, February 26th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. Pegasystems had a net margin of 3.92% and a return on equity of 9.68%. The business had revenue of $239.54 million during the quarter, compared to analysts’ expectations of $208.48 million. During the same period in the previous year, the business posted $0.20 EPS. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. sell-side analysts forecast that Pegasystems will post 0.34 earnings per share for the current year.
In related news, SVP Douglas I. Kra sold 1,164 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $49.90, for a total value of $58,083.60. Following the completion of the transaction, the senior vice president now directly owns 25,664 shares in the company, valued at approximately $1,280,633.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 3,796 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $51.52, for a total transaction of $195,569.92. Following the completion of the transaction, the chief financial officer now owns 3,372 shares of the company’s stock, valued at $173,725.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,035 shares of company stock valued at $940,525. Company insiders own 53.61% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Pegasystems by 208.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,048 shares of the technology company’s stock valued at $144,000 after purchasing an additional 2,061 shares during the period. Great West Life Assurance Co. Can increased its holdings in Pegasystems by 58.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,935 shares of the technology company’s stock worth $282,000 after acquiring an additional 1,811 shares in the last quarter. Advisor Group Inc. increased its holdings in Pegasystems by 792.9% in the 3rd quarter. Advisor Group Inc. now owns 5,134 shares of the technology company’s stock worth $296,000 after acquiring an additional 4,559 shares in the last quarter. Virtu Financial LLC increased its holdings in Pegasystems by 47.2% in the 4th quarter. Virtu Financial LLC now owns 5,816 shares of the technology company’s stock worth $274,000 after acquiring an additional 1,865 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Pegasystems by 189.2% in the 3rd quarter. Sei Investments Co. now owns 6,064 shares of the technology company’s stock worth $349,000 after acquiring an additional 3,967 shares in the last quarter. Hedge funds and other institutional investors own 47.88% of the company’s stock.
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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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