Pegasystems’ (PEGA) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Pegasystems (NASDAQ:PEGA) in a research note published on Wednesday morning, The Fly reports. Wedbush currently has a $90.00 price objective on the technology company’s stock, up from their previous price objective of $84.00. The analysts noted that the move was a valuation call.

Several other research firms have also issued reports on PEGA. BidaskClub lowered Pegasystems from a strong-buy rating to a buy rating in a research report on Thursday, March 21st. Zacks Investment Research raised Pegasystems from a strong sell rating to a hold rating and set a $67.00 price target for the company in a research report on Tuesday, February 19th. TheStreet raised Pegasystems from a c rating to a b- rating in a research report on Friday, March 22nd. Finally, UBS Group lifted their price target on Pegasystems to $78.00 and gave the stock an overweight rating in a research report on Tuesday, May 7th. 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 company’s stock. The company has an average rating of Buy and an average price target of $79.20.

Shares of Pegasystems stock opened at $70.65 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.84 and a current ratio of 1.86. Pegasystems has a 12 month low of $43.21 and a 12 month high of $76.49.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.24). The firm had revenue of $212.50 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. Equities analysts expect that Pegasystems will post -0.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date was Friday, March 29th.

In related news, Director Richard H. Jones sold 25,000 shares of Pegasystems stock in a transaction dated Thursday, March 14th. The stock was 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 directly owns 297,537 shares in the company, valued at approximately $19,307,175.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 5,000 shares of Pegasystems stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $63.96, for a total value of $319,800.00. The disclosure for this sale can be found here. Insiders sold a total of 52,403 shares of company stock valued at $3,421,274 over the last quarter. 52.85% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC increased its holdings in Pegasystems by 542.2% in the 1st quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after buying an additional 347 shares in the last quarter. Parallel Advisors LLC increased its holdings in Pegasystems by 46.1% in the 4th quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock worth $37,000 after buying an additional 250 shares in the last quarter. Lloyds Banking Group plc bought a new stake in Pegasystems in the 4th quarter worth about $65,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Pegasystems by 22.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock worth $130,000 after buying an additional 495 shares in the last quarter. Finally, We Are One Seven LLC bought a new stake in Pegasystems in the 4th quarter worth about $140,000. Institutional investors own 47.86% of the company’s stock.

About Pegasystems

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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