Pegasystems (PEGA) Cut to “Sell” at BidaskClub

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Pegasystems (NASDAQ:PEGA) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.

PEGA has been the topic of a number of other reports. ValuEngine upgraded Pegasystems from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Wedbush reiterated an “outperform” rating and set a $76.00 target price (down from $78.00) on shares of Pegasystems in a research report on Monday, August 6th. Finally, Zacks Investment Research upgraded Pegasystems from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Pegasystems presently has an average rating of “Buy” and a consensus target price of $69.80.

PEGA opened at $54.00 on Friday. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 245.45, a PEG ratio of 61.78 and a beta of 1.07. Pegasystems has a one year low of $45.40 and a one year high of $67.95.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, August 8th. The technology company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.35). The firm had revenue of $196.78 million for the quarter, compared to analysts’ expectations of $217.24 million. Pegasystems had a positive return on equity of 0.01% and a negative net margin of 0.43%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. As a group, equities analysts predict that Pegasystems will post 0.13 EPS for the current year.

In other news, VP Efstathios A. Kouninis sold 403 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $63.50, for a total value of $25,590.50. Following the sale, the vice president now directly owns 12,639 shares in the company, valued at $802,576.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Efstathios A. Kouninis sold 455 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $65.31, for a total value of $29,716.05. Following the completion of the sale, the vice president now owns 322 shares in the company, valued at $21,029.82. The disclosure for this sale can be found here. Insiders sold 27,869 shares of company stock worth $1,742,669 over the last 90 days. Company insiders own 52.85% of the company’s stock.

Several large investors have recently modified their holdings of PEGA. Wells Fargo & Company MN lifted its position in shares of Pegasystems by 10.2% in the first quarter. Wells Fargo & Company MN now owns 102,369 shares of the technology company’s stock valued at $6,209,000 after acquiring an additional 9,480 shares in the last quarter. BlackRock Inc. lifted its position in shares of Pegasystems by 0.6% in the first quarter. BlackRock Inc. now owns 2,398,718 shares of the technology company’s stock valued at $145,481,000 after acquiring an additional 14,682 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Pegasystems in the first quarter valued at $218,000. Russell Investments Group Ltd. lifted its position in shares of Pegasystems by 355.9% in the first quarter. Russell Investments Group Ltd. now owns 43,361 shares of the technology company’s stock valued at $2,629,000 after acquiring an additional 33,849 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Pegasystems by 619.7% in the first quarter. UBS Group AG now owns 57,270 shares of the technology company’s stock valued at $3,474,000 after acquiring an additional 49,312 shares in the last quarter. Institutional investors and hedge funds own 45.38% of the company’s stock.

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.

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