Pegasystems (NASDAQ:PEGA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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 the stock. BidaskClub upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. ValuEngine raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Friday, November 30th. Finally, Wedbush cut their price target on shares of Pegasystems from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, November 8th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $70.20.
Shares of NASDAQ:PEGA opened at $59.42 on Tuesday. The firm has a market capitalization of $4.59 billion, a P/E ratio of 270.09 and a beta of 1.26. Pegasystems has a 52 week low of $43.21 and a 52 week high of $67.95.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, February 20th. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The company had revenue of $256.36 million for the quarter, compared to analysts’ expectations of $252.71 million. Pegasystems had a negative net margin of 1.08% and a negative return on equity of 0.90%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. As a group, analysts forecast that Pegasystems will post -0.09 earnings per share for the current year.
In other Pegasystems news, CFO Kenneth Stillwell sold 1,500 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $54.17, for a total value of $81,255.00. Following the sale, the chief financial officer now owns 12,259 shares of the company’s stock, valued at approximately $664,070.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Leon Trefler sold 1,541 shares of the firm’s stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $53.00, for a total transaction of $81,673.00. The disclosure for this sale can be found here. In the last three months, insiders sold 11,365 shares of company stock worth $600,203. Insiders own 52.85% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Pegasystems by 46.1% during the 4th quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. Lloyds Banking Group plc bought a new stake in shares of Pegasystems during the 4th quarter valued at about $65,000. Quantbot Technologies LP bought a new stake in shares of Pegasystems during the 3rd quarter valued at about $122,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Pegasystems by 22.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock valued at $130,000 after purchasing an additional 495 shares in the last quarter. Finally, We Are One Seven LLC purchased a new position in Pegasystems during the 4th quarter valued at about $140,000. 45.23% of the stock is currently owned by hedge funds and other institutional investors.
Pegasystems Company Profile
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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