BidaskClub Lowers Pegasystems (NASDAQ:PEGA) to Sell

BidaskClub lowered shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a sell rating in a research note released on Tuesday morning, BidAskClub reports.

PEGA has been the topic of a number of other reports. UBS Group increased their price target on Pegasystems to $78.00 and gave the stock an overweight rating in a report on Tuesday, May 7th. Benchmark restated a buy rating and set a $80.00 price target (up from $72.00) on shares of Pegasystems in a report on Wednesday, May 8th. Zacks Investment Research upgraded Pegasystems from a strong sell rating to a hold rating in a report on Wednesday, July 10th. JMP Securities increased their price target on Pegasystems from $72.00 to $81.00 and gave the stock a market outperform rating in a report on Wednesday, May 8th. Finally, TheStreet cut Pegasystems from a b- rating to a c rating in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $80.20.

Pegasystems stock opened at $69.66 on Tuesday. Pegasystems has a 52-week low of $43.21 and a 52-week high of $79.67. The stock’s 50 day moving average price is $73.91 and its two-hundred day moving average price is $69.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.72 and a current ratio of 1.72.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.17). The business had revenue of $205.60 million for the quarter, compared to the consensus estimate of $203.16 million. Pegasystems had a negative return on equity of 9.39% and a negative net margin of 5.95%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts anticipate that Pegasystems will post -0.77 earnings per share for the current fiscal year.

In related news, Director Richard H. Jones sold 3,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $70.83, for a total value of $212,490.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 853 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $70.25, for a total value of $59,923.25. Following the completion of the transaction, the chief accounting officer now owns 656 shares in the company, valued at $46,084. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,392 shares of company stock worth $2,504,706. 52.37% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of PEGA. Quantamental Technologies LLC lifted its holdings in shares of Pegasystems by 542.2% in the 1st quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after purchasing an additional 347 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Pegasystems in the 2nd quarter worth $32,000. Cutler Group LP bought a new position in shares of Pegasystems in the 2nd quarter worth $43,000. Steward Partners Investment Advisory LLC bought a new position in shares of Pegasystems in the 2nd quarter worth $53,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Pegasystems by 352.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the technology company’s stock worth $70,000 after purchasing an additional 761 shares in the last quarter. Institutional investors own 44.96% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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