Pegasystems Inc. (PEGA) Rating Lowered to Neutral at Sidoti
Pegasystems Inc. (NASDAQ:PEGA) was downgraded by investment analysts at Sidoti from a “buy” rating to a “neutral” rating in a research note issued on Monday.
Other research analysts also recently issued reports about the company. JMP Securities reiterated a “buy” rating on shares of Pegasystems in a report on Thursday, November 3rd. Zacks Investment Research downgraded Pegasystems from a “hold” rating to a “sell” rating in a report on Saturday, August 6th. Wedbush lifted their price target on Pegasystems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Finally, TheStreet downgraded Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.75.
Shares of Pegasystems (NASDAQ:PEGA) opened at 34.80 on Monday. The firm has a 50-day moving average price of $30.81 and a 200-day moving average price of $27.90. The stock has a market cap of $2.66 billion, a PE ratio of 75.65 and a beta of 1.56. Pegasystems has a 12 month low of $20.38 and a 12 month high of $35.65.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. Pegasystems had a return on equity of 15.13% and a net margin of 4.77%. The business had revenue of $182.80 million for the quarter, compared to the consensus estimate of $185.88 million. During the same period last year, the business posted $0.17 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. Equities analysts forecast that Pegasystems will post $0.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Monday, October 3rd were given a $0.03 dividend. The ex-dividend date was Thursday, September 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. Pegasystems’s payout ratio is 26.67%.
In other news, Director William W. Wyman sold 16,700 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $27.91, for a total value of $466,097.00. Following the completion of the sale, the director now owns 16,741 shares of the company’s stock, valued at approximately $467,241.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven F. Kaplan sold 9,416 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $25.60, for a total value of $241,049.60. Following the completion of the sale, the director now directly owns 57,820 shares of the company’s stock, valued at approximately $1,480,192. The disclosure for this sale can be found here. 53.44% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of PEGA. BlackRock Inc. boosted its stake in Pegasystems by 3.1% in the third quarter. BlackRock Inc. now owns 3,615 shares of the company’s stock worth $107,000 after buying an additional 110 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Pegasystems by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 5,330 shares of the company’s stock worth $144,000 after buying an additional 654 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Pegasystems during the third quarter worth approximately $162,000. Suntrust Banks Inc. purchased a new stake in shares of Pegasystems during the third quarter worth approximately $222,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Pegasystems during the second quarter worth approximately $235,000. 41.94% of the stock is owned by hedge funds and other institutional investors.
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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