Pegasystems Inc. (PEGA) Upgraded to Hold by Zacks Investment Research
Pegasystems Inc. (NASDAQ:PEGA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.
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 brokerages also recently issued reports on PEGA. Wedbush restated an “outperform” rating and issued a $32.00 price target (down from $34.00) on shares of Pegasystems in a research report on Thursday, August 4th. JMP Securities restated a “buy” rating on shares of Pegasystems in a research report on Wednesday, June 8th. Finally, TheStreet downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $30.67.
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Pegasystems (NASDAQ:PEGA) opened at 27.99 on Friday. Pegasystems has a 1-year low of $20.38 and a 1-year high of $30.23. The firm has a 50-day moving average of $26.26 and a 200-day moving average of $26.30. The stock has a market cap of $2.14 billion, a PE ratio of 54.88 and a beta of 1.88.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company earned $189 million during the quarter, compared to the consensus estimate of $185.19 million. Pegasystems had a return on equity of 16.25% and a net margin of 5.44%. Pegasystems’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Analysts expect that Pegasystems will post $0.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.43%. Pegasystems’s dividend payout ratio (DPR) is 24.00%.
In related news, Director Richard H. Jones sold 900 shares of Pegasystems stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $28.47, for a total value of $25,623.00. Following the completion of the sale, the director now directly owns 627,642 shares in the company, valued at $17,868,967.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Jones sold 1,800 shares of Pegasystems stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $27.44, for a total value of $49,392.00. Following the completion of the sale, the director now owns 619,993 shares of the company’s stock, valued at $17,012,607.92. The disclosure for this sale can be found here. Insiders own 53.44% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PEGA. Schwab Charles Investment Management Inc. increased its stake in Pegasystems by 23.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 384,704 shares of the company’s stock valued at $10,368,000 after buying an additional 73,510 shares during the last quarter. American Century Companies Inc. increased its stake in Pegasystems by 2.3% in the second quarter. American Century Companies Inc. now owns 160,874 shares of the company’s stock valued at $4,336,000 after buying an additional 3,637 shares during the last quarter. AQR Capital Management LLC increased its stake in Pegasystems by 10.0% in the second quarter. AQR Capital Management LLC now owns 57,591 shares of the company’s stock valued at $1,552,000 after buying an additional 5,239 shares during the last quarter. Polar Capital LLP purchased a new stake in Pegasystems during the second quarter valued at $10,462,000. Finally, Ranger Investment Management L.P. purchased a new stake in Pegasystems during the second quarter valued at $21,009,000. Hedge funds and other institutional investors own 42.23% 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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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