BidaskClub Downgrades Pegasystems (PEGA) to Sell

BidaskClub cut shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Other equities research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Pegasystems from a c+ rating to a b rating in a research report on Wednesday, March 28th. Zacks Investment Research upgraded shares of Pegasystems from a hold rating to a buy rating and set a $64.00 target price for the company in a research report on Wednesday, February 28th. Benchmark increased their target price on shares of Pegasystems from $67.00 to $72.00 and gave the company a buy rating in a research report on Monday, March 12th. DA Davidson started coverage on shares of Pegasystems in a research report on Thursday, April 26th. They issued a buy rating and a $72.00 target price for the company. Finally, ValuEngine upgraded shares of Pegasystems from a hold rating to a buy rating in a research report on Monday, April 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Pegasystems has an average rating of Hold and an average price target of $67.67.

Shares of Pegasystems opened at $56.20 on Tuesday, according to Marketbeat.com. The stock has a market capitalization of $4.29 billion, a PE ratio of 303.06, a price-to-earnings-growth ratio of 11.24 and a beta of 1.01. Pegasystems has a 52 week low of $45.40 and a 52 week high of $67.95.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Thursday, May 10th. The technology company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.07). The business had revenue of $235.18 million during the quarter, compared to analyst estimates of $228.97 million. Pegasystems had a net margin of 2.12% and a return on equity of 3.62%. Pegasystems’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. sell-side analysts anticipate that Pegasystems will post 0.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, July 2nd will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, June 29th. Pegasystems’s dividend payout ratio is currently 54.55%.

In related news, Director Steven F. Kaplan sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $65.16, for a total value of $651,600.00. Following the completion of the sale, the director now owns 44,776 shares of the company’s stock, valued at $2,917,604.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Efstathios A. Kouninis sold 722 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $65.11, for a total transaction of $47,009.42. Following the completion of the sale, the vice president now directly owns 1,472 shares of the company’s stock, valued at approximately $95,841.92. The disclosure for this sale can be found here. Insiders sold 45,290 shares of company stock valued at $2,813,254 in the last three months. 52.85% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Swiss National Bank boosted its stake in Pegasystems by 2.4% during the first quarter. Swiss National Bank now owns 67,700 shares of the technology company’s stock worth $4,106,000 after buying an additional 1,600 shares during the period. SG Americas Securities LLC boosted its stake in Pegasystems by 29.0% during the first quarter. SG Americas Securities LLC now owns 7,471 shares of the technology company’s stock worth $453,000 after buying an additional 1,679 shares during the period. Virtu Financial LLC boosted its stake in Pegasystems by 47.2% during the fourth quarter. Virtu Financial LLC now owns 5,816 shares of the technology company’s stock worth $274,000 after buying an additional 1,865 shares during the period. California Public Employees Retirement System boosted its stake in Pegasystems by 1.8% during the fourth quarter. California Public Employees Retirement System now owns 116,756 shares of the technology company’s stock worth $5,505,000 after buying an additional 2,027 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Pegasystems by 208.8% in the fourth 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. 45.78% of the stock is owned by institutional investors.

About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients to build and extend their own applications.

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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