Pegasystems (PEGA) Cut to Strong Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a strong sell rating in a research report report published on Tuesday, Zacks.com reports.

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. “

Other analysts have also recently issued research reports about the stock. TheStreet raised shares of Pegasystems from a c rating to a b- rating in a research note on Friday, March 22nd. Benchmark reissued a buy rating and issued a $80.00 target price (up previously from $72.00) on shares of Pegasystems in a research note on Wednesday, May 8th. BidaskClub lowered shares of Pegasystems from a strong-buy rating to a buy rating in a research report on Wednesday, May 1st. JMP Securities boosted their price target on shares of Pegasystems from $72.00 to $81.00 and gave the company a market outperform rating in a research report on Wednesday, May 8th. Finally, Wedbush restated an outperform rating and issued a $90.00 price target (up from $84.00) on shares of Pegasystems in a research report on Wednesday, May 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $79.20.

NASDAQ PEGA opened at $71.59 on Tuesday. Pegasystems has a twelve month low of $43.21 and a twelve month high of $76.49. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.08.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.24). The business had revenue of $212.50 million during the quarter, compared to the consensus estimate of $237.63 million. Pegasystems had a negative net margin of 3.49% and a negative return on equity of 4.85%. The business’s revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. On average, equities research analysts anticipate that Pegasystems will post -0.7 earnings per share for the current fiscal year.

In other Pegasystems news, CAO Efstathios A. Kouninis sold 500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $70.00, for a total value of $35,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $73.70, for a total transaction of $73,700.00. Following the completion of the transaction, the chief financial officer now owns 6,369 shares in the company, valued at $469,395.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,903 shares of company stock worth $3,456,274. Company insiders own 52.85% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC lifted its position in shares of Pegasystems by 542.2% during the first quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after purchasing an additional 347 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Pegasystems by 46.1% during the fourth quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock worth $37,000 after purchasing an additional 250 shares in the last quarter. Tyers Asset Management LLC acquired a new position in shares of Pegasystems during the first quarter worth approximately $53,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Pegasystems by 21.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 841 shares of the technology company’s stock worth $55,000 after purchasing an additional 151 shares in the last quarter. Finally, Lloyds Banking Group plc acquired a new position in shares of Pegasystems during the fourth quarter worth approximately $65,000. Institutional investors own 47.32% 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.

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