Pegasystems Inc. (PEGA) Upgraded to Hold by Zacks Investment Research
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. “
A number of other equities analysts have also recently commented on PEGA. Wedbush reiterated an outperform rating and issued a $34.00 target price on shares of Pegasystems in a report on Wednesday, June 8th. JMP Securities reiterated a buy rating on shares of Pegasystems in a report on Wednesday, June 8th. Finally, TheStreet cut Pegasystems from a buy rating to a hold rating in a report on Friday, August 26th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Pegasystems presently has an average rating of Hold and a consensus target price of $30.67.
Pegasystems (NASDAQ:PEGA) traded down 0.64% during trading on Wednesday, reaching $29.31. The company’s stock had a trading volume of 148,287 shares. Pegasystems has a 12-month low of $20.38 and a 12-month high of $30.23. The firm’s 50-day moving average price is $27.34 and its 200 day moving average price is $26.68. The company has a market capitalization of $2.24 billion, a P/E ratio of 57.47 and a beta of 1.71.
Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. The firm earned $189 million during the quarter, compared to analysts’ expectations of $185.19 million. Pegasystems had a return on equity of 16.25% and a net margin of 5.44%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. On average, analysts predict that Pegasystems will post $0.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Thursday, September 29th. Pegasystems’s payout ratio is currently 24.00%.
In other Pegasystems news, Director Richard H. Jones sold 7,300 shares of Pegasystems stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $28.06, for a total transaction of $204,838.00. Following the completion of the sale, the director now directly owns 628,509 shares of the company’s stock, valued at approximately $17,635,962.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard H. Jones sold 900 shares of Pegasystems stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $28.60, for a total value of $25,740.00. Following the sale, the director now directly owns 614,460 shares of the company’s stock, valued at $17,573,556. The disclosure for this sale can be found here. Corporate insiders own 53.44% of the company’s stock.
A number of large investors have recently modified their holdings of PEGA. Vanguard Group Inc. raised its stake in shares of Pegasystems by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,536,517 shares of the company’s stock worth $68,359,000 after buying an additional 8,353 shares during the period. FMR LLC raised its stake in shares of Pegasystems by 18.1% in the second quarter. FMR LLC now owns 1,518,245 shares of the company’s stock worth $40,917,000 after buying an additional 232,745 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pegasystems by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,386,596 shares of the company’s stock worth $37,368,000 after buying an additional 96,691 shares during the period. BlackRock Fund Advisors raised its stake in shares of Pegasystems by 0.8% in the second quarter. BlackRock Fund Advisors now owns 945,177 shares of the company’s stock worth $25,473,000 after buying an additional 7,794 shares during the period. Finally, Ranger Investment Management L.P. purchased a new stake in shares of Pegasystems during the second quarter worth $21,009,000. 41.74% of the stock is owned by institutional investors and hedge funds.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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