BidaskClub Downgrades Pegasystems Inc. (NASDAQ:PEGA) to Hold
BidaskClub cut shares of Pegasystems Inc. (NASDAQ:PEGA) from a buy rating to a hold rating in a report released on Friday morning.
Several other brokerages have also recently issued reports on PEGA. Zacks Investment Research cut shares of Pegasystems from a buy rating to a hold rating in a research report on Thursday, July 20th. JMP Securities reaffirmed an outperform rating and issued a $63.00 target price (up previously from $55.00) on shares of Pegasystems in a report on Wednesday, June 7th. Benchmark Co. reaffirmed a buy rating and issued a $67.00 target price (up previously from $60.00) on shares of Pegasystems in a report on Tuesday, June 6th. Finally, Wedbush reaffirmed an outperform rating and issued a $60.00 target price (down previously from $67.00) on shares of Pegasystems in a report on Tuesday, June 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $60.00.
Shares of Pegasystems (NASDAQ PEGA) traded down 1.74% on Friday, hitting $59.15. 300,268 shares of the stock were exchanged. Pegasystems has a 52-week low of $24.71 and a 52-week high of $64.85. The stock has a market cap of $4.56 billion, a PE ratio of 108.53 and a beta of 1.46. The company’s 50 day moving average is $60.10 and its 200-day moving average is $49.46.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.16. The business had revenue of $223.20 million for the quarter, compared to analysts’ expectations of $200.52 million. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. Analysts predict that Pegasystems will post $1.06 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were issued a $0.03 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.12 annualized dividend and a yield of 0.20%. Pegasystems’s dividend payout ratio (DPR) is 23.08%.
In related news, Director Richard H. Jones sold 19,600 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $55.65, for a total value of $1,090,740.00. Following the sale, the director now owns 569,769 shares of the company’s stock, valued at $31,707,644.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 4,283 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $60.48, for a total transaction of $259,035.84. Following the completion of the sale, the chief financial officer now directly owns 8,746 shares in the company, valued at approximately $528,958.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,886 shares of company stock worth $5,044,204. 53.61% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in PEGA. Bahl & Gaynor Inc. boosted its stake in Pegasystems by 13.6% in the first quarter. Bahl & Gaynor Inc. now owns 61,629 shares of the technology company’s stock worth $2,702,000 after buying an additional 7,390 shares during the last quarter. Vista Equity Partners Management LLC boosted its stake in Pegasystems by 81.2% in the first quarter. Vista Equity Partners Management LLC now owns 302,571 shares of the technology company’s stock worth $13,268,000 after buying an additional 135,582 shares during the last quarter. Bank of Montreal Can boosted its stake in Pegasystems by 31.4% in the first quarter. Bank of Montreal Can now owns 4,723 shares of the technology company’s stock worth $208,000 after buying an additional 1,129 shares during the last quarter. Teachers Advisors LLC boosted its stake in Pegasystems by 54.6% in the fourth quarter. Teachers Advisors LLC now owns 107,736 shares of the technology company’s stock worth $3,878,000 after buying an additional 38,047 shares during the last quarter. Finally, Capital Impact Advisors LLC boosted its stake in Pegasystems by 30.1% in the first quarter. Capital Impact Advisors LLC now owns 41,698 shares of the technology company’s stock worth $1,828,000 after buying an additional 9,642 shares during the last quarter. 44.04% of the stock is currently owned by institutional investors.
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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