Pegasystems (PEGA) Stock Rating Upgraded by BidaskClub

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Pegasystems (NASDAQ:PEGA) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.

PEGA has been the subject of several other research reports. Wedbush decreased their price objective on Pegasystems from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, November 8th. ValuEngine upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Friday, November 30th. Finally, Zacks Investment Research upgraded Pegasystems from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 14th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Pegasystems has an average rating of “Buy” and an average price target of $70.20.

Shares of NASDAQ PEGA opened at $51.78 on Wednesday. The stock has a market capitalization of $4.03 billion, a PE ratio of 235.36 and a beta of 1.20. Pegasystems has a fifty-two week low of $43.21 and a fifty-two week high of $67.95.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, November 7th. The technology company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.10). The company had revenue of $203.26 million during the quarter, compared to the consensus estimate of $199.57 million. Pegasystems had a negative net margin of 1.08% and a negative return on equity of 0.90%. Pegasystems’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, sell-side analysts expect that Pegasystems will post -0.09 earnings per share for the current fiscal year.

In related news, CFO Kenneth Stillwell sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $53.40, for a total value of $80,100.00. Following the completion of the sale, the chief financial officer now directly owns 11,866 shares in the company, valued at approximately $633,644.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry Weber sold 500 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $53.45, for a total transaction of $26,725.00. The disclosure for this sale can be found here. Insiders sold a total of 7,974 shares of company stock valued at $407,201 in the last 90 days. 52.85% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Pegasystems by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,401,811 shares of the technology company’s stock valued at $212,953,000 after purchasing an additional 90,839 shares during the last quarter. Vanguard Group Inc lifted its stake in Pegasystems by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 3,401,811 shares of the technology company’s stock valued at $212,953,000 after purchasing an additional 90,839 shares during the last quarter. BlackRock Inc. lifted its stake in Pegasystems by 2.7% in the 3rd quarter. BlackRock Inc. now owns 1,697,950 shares of the technology company’s stock valued at $106,293,000 after purchasing an additional 45,356 shares during the last quarter. Standard Life Aberdeen plc lifted its stake in Pegasystems by 63.0% in the 3rd quarter. Standard Life Aberdeen plc now owns 1,238,757 shares of the technology company’s stock valued at $77,608,000 after purchasing an additional 478,916 shares during the last quarter. Finally, FMR LLC lifted its stake in Pegasystems by 6.7% in the 3rd quarter. FMR LLC now owns 1,000,499 shares of the technology company’s stock valued at $62,631,000 after purchasing an additional 62,385 shares during the last quarter. Institutional investors and hedge funds own 46.08% 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. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.

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