Pegasystems Inc. (NASDAQ:PEGA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “
A number of other research analysts also recently commented on PEGA. BidaskClub upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Mitsubishi UFJ Financial Group set a $57.00 price objective on shares of Pegasystems and gave the company a “buy” rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.00.
Shares of Pegasystems (NASDAQ PEGA) opened at 57.50 on Thursday. Pegasystems has a 12 month low of $29.10 and a 12 month high of $64.85. The company has a 50-day moving average of $58.16 and a 200-day moving average of $56.27. The stock has a market capitalization of $4.46 billion, a PE ratio of 92.00 and a beta of 1.48.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.04). Pegasystems had a net margin of 6.17% and a return on equity of 13.06%. The company had revenue of $197.98 million for the quarter, compared to the consensus estimate of $205.06 million. During the same quarter last year, the company earned $0.19 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that Pegasystems will post $0.94 EPS for the current fiscal year.
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In other news, Director Richard H. Jones sold 11,200 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $59.97, for a total value of $671,664.00. Following the transaction, the director now directly owns 529,292 shares in the company, valued at approximately $31,741,641.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Douglas I. Kra sold 1,187 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $57.91, for a total transaction of $68,739.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,432 shares of company stock worth $1,834,674. Insiders own 53.61% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Parametrica Management Ltd bought a new position in shares of Pegasystems in the 3rd quarter worth about $380,000. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Pegasystems by 19.2% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 676,590 shares of the technology company’s stock worth $39,005,000 after buying an additional 108,795 shares during the last quarter. Strs Ohio lifted its position in shares of Pegasystems by 36.1% in the 3rd quarter. Strs Ohio now owns 27,081 shares of the technology company’s stock worth $1,561,000 after buying an additional 7,181 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of Pegasystems in the 3rd quarter worth about $1,603,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Pegasystems in the 2nd quarter worth about $949,000. Institutional investors own 44.46% 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.
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