Pegasystems (PEGA) Cut to “Buy” at BidaskClub

BidaskClub cut shares of Pegasystems (NASDAQ:PEGA) from a strong-buy rating to a buy rating in a research report released on Thursday, March 21st, BidAskClub reports.

Other analysts also recently issued reports about the company. ValuEngine upgraded Pegasystems from a buy rating to a strong-buy rating in a research report on Friday, November 30th. Wedbush reiterated an outperform rating and set a $84.00 target price (up from $80.00) on shares of Pegasystems in a research report on Wednesday, February 27th. Finally, Zacks Investment Research upgraded Pegasystems from a strong sell rating to a hold rating and set a $67.00 target price for the company in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Pegasystems has an average rating of Buy and an average target price of $68.62.

NASDAQ PEGA traded up $0.38 on Thursday, hitting $69.70. 266,400 shares of the stock were exchanged, compared to its average volume of 374,138. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 3,415.50 and a beta of 1.38. Pegasystems has a 52-week low of $43.21 and a 52-week high of $69.89.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, February 20th. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.16 by $0.20. Pegasystems had a net margin of 1.19% and a return on equity of 0.34%. The company had revenue of $256.36 million during the quarter, compared to analyst estimates of $252.71 million. During the same period in the previous year, the firm earned $0.45 earnings per share. Pegasystems’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts anticipate that Pegasystems will post -0.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.17%.

In related news, CAO Efstathios A. Kouninis sold 465 shares of Pegasystems stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $65.50, for a total value of $30,457.50. Following the completion of the sale, the chief accounting officer now directly owns 1,527 shares in the company, valued at $100,018.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Jones sold 25,000 shares of Pegasystems stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.89, for a total value of $1,622,250.00. Following the completion of the sale, the director now owns 297,537 shares of the company’s stock, valued at $19,307,175.93. The disclosure for this sale can be found here. Insiders sold 55,580 shares of company stock valued at $3,553,473 over the last 90 days. 52.85% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Pegasystems by 2.7% during the third quarter. Vanguard Group Inc. now owns 3,401,811 shares of the technology company’s stock worth $212,953,000 after acquiring an additional 90,839 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Pegasystems by 2.7% during the third quarter. Vanguard Group Inc now owns 3,401,811 shares of the technology company’s stock worth $212,953,000 after acquiring an additional 90,839 shares during the last quarter. SQN Investors LP grew its stake in shares of Pegasystems by 27.8% during the fourth quarter. SQN Investors LP now owns 2,117,903 shares of the technology company’s stock worth $101,299,000 after acquiring an additional 460,938 shares during the last quarter. BlackRock Inc. grew its stake in shares of Pegasystems by 2.0% during the fourth quarter. BlackRock Inc. now owns 1,732,682 shares of the technology company’s stock worth $82,876,000 after acquiring an additional 34,732 shares during the last quarter. Finally, Standard Life Aberdeen plc grew its stake in shares of Pegasystems by 63.0% during the third quarter. Standard Life Aberdeen plc now owns 1,238,757 shares of the technology company’s stock worth $77,608,000 after acquiring an additional 478,916 shares during the last quarter. Institutional investors and hedge funds own 48.17% 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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