BidaskClub Upgrades Pegasystems (NASDAQ:PEGA) to “Buy”

BidaskClub upgraded shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

A number of other research analysts have also issued reports on PEGA. Zacks Investment Research lowered shares of Pegasystems from a hold rating to a sell rating in a research report on Wednesday, November 13th. ValuEngine lowered shares of Pegasystems from a buy rating to a hold rating in a research report on Tuesday, December 3rd. Finally, DA Davidson increased their target price on shares of Pegasystems to $95.00 and gave the stock a buy rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Pegasystems has an average rating of Buy and an average target price of $82.67.

Shares of NASDAQ:PEGA traded up $0.49 on Tuesday, reaching $86.44. 154,934 shares of the company’s stock were exchanged, compared to its average volume of 273,415. The company has a fifty day moving average of $78.70 and a 200-day moving average of $74.67. Pegasystems has a twelve month low of $53.29 and a twelve month high of $86.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.45 and a current ratio of 1.45.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.23). Pegasystems had a negative net margin of 8.41% and a negative return on equity of 14.16%. The firm had revenue of $216.70 million for the quarter, compared to analyst estimates of $216.68 million. During the same quarter in the prior year, the business posted $0.04 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that Pegasystems will post -0.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%.

In related news, Director Richard H. Jones sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.26, for a total transaction of $225,780.00. Following the sale, the director now owns 299,544 shares in the company, valued at approximately $22,543,681.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 4,666 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.66, for a total transaction of $343,697.56. Following the sale, the chief financial officer now owns 17,144 shares in the company, valued at approximately $1,262,827.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,287 shares of company stock worth $3,954,867. Company insiders own 52.37% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PEGA. Captrust Financial Advisors acquired a new stake in shares of Pegasystems during the 2nd quarter worth approximately $32,000. Tower Research Capital LLC TRC boosted its position in shares of Pegasystems by 352.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 977 shares of the technology company’s stock worth $70,000 after acquiring an additional 761 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Pegasystems by 54.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,690 shares of the technology company’s stock worth $115,000 after acquiring an additional 596 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Pegasystems during the 3rd quarter worth approximately $122,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Pegasystems during the 2nd quarter worth approximately $164,000. Institutional investors and hedge funds own 45.58% 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.

Further Reading: Derivative

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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