Pegasystems (PEGA) Raised to “Sell” at BidaskClub

Pegasystems (NASDAQ:PEGA) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Several other research firms have also recently commented on PEGA. Zacks Investment Research cut Pegasystems from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. TheStreet cut Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $63.00.

Pegasystems (PEGA) traded up $0.85 during trading hours on Wednesday, hitting $48.00. The company had a trading volume of 368,400 shares, compared to its average volume of 336,100. Pegasystems has a 12-month low of $35.35 and a 12-month high of $64.85. The firm has a market capitalization of $3,740.00, a PE ratio of 81.36 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Pegasystems had a return on equity of 9.86% and a net margin of 5.67%. The firm had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $200.15 million. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. research analysts anticipate that Pegasystems will post 0.26 earnings per share for the current fiscal year.

In other Pegasystems news, CFO Kenneth Stillwell sold 3,978 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $57.83, for a total transaction of $230,047.74. Following the completion of the sale, the chief financial officer now owns 5,094 shares of the company’s stock, valued at $294,586.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 728 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $49.73, for a total value of $36,203.44. Following the sale, the chief accounting officer now directly owns 1,012 shares of the company’s stock, valued at approximately $50,326.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,889 shares of company stock valued at $630,756. 53.61% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Legal & General Group Plc boosted its position in shares of Pegasystems by 1.1% during the second quarter. Legal & General Group Plc now owns 14,206 shares of the technology company’s stock worth $830,000 after buying an additional 155 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Pegasystems by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 29,432 shares of the technology company’s stock worth $1,717,000 after buying an additional 587 shares during the period. Voya Investment Management LLC boosted its position in shares of Pegasystems by 6.2% during the second quarter. Voya Investment Management LLC now owns 17,380 shares of the technology company’s stock worth $1,014,000 after buying an additional 1,010 shares during the period. Swiss National Bank boosted its position in shares of Pegasystems by 2.2% during the second quarter. Swiss National Bank now owns 64,300 shares of the technology company’s stock worth $3,752,000 after buying an additional 1,400 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Pegasystems by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 158,207 shares of the technology company’s stock worth $9,232,000 after buying an additional 1,405 shares during the period. 45.77% of the stock is owned by institutional investors.

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Pegasystems Company Profile

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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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