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. “
PEGA has been the subject of a number of other reports. UBS Group reissued a buy rating and issued a $25.00 price target on shares of Infineon Technologies in a research report on Tuesday, May 7th. JMP Securities boosted their price target on shares of Pegasystems from $72.00 to $81.00 and gave the company a market outperform rating in a research report on Wednesday, May 8th. Benchmark reissued a buy rating and issued a $80.00 price target (up from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. TheStreet cut shares of Wayside Technology Group from a b- rating to a c rating in a report on Wednesday, May 22nd. Finally, BidaskClub cut shares of ZIX from a strong-buy rating to a buy rating in a report on Friday, June 7th. Two research 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 stock. The company presently has an average rating of Buy and an average price target of $79.20.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.24). Pegasystems had a negative net margin of 3.49% and a negative return on equity of 4.85%. The company had revenue of $212.50 million during the quarter, compared to analysts’ expectations of $237.63 million. During the same period last year, the firm earned $0.24 earnings per share. Pegasystems’s revenue was down 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Pegasystems will post -0.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%.
In other news, VP Michael R. Pyle sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $72.09, for a total value of $216,270.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $73.70, for a total transaction of $73,700.00. Following the completion of the sale, the chief financial officer now directly owns 6,369 shares of the company’s stock, valued at $469,395.30. The disclosure for this sale can be found here. Insiders sold 30,251 shares of company stock valued at $2,178,587 over the last ninety days. Corporate insiders own 52.37% of the company’s stock.
Large investors have recently made changes to their positions in the company. Quantamental Technologies LLC raised its holdings in shares of Pegasystems by 542.2% in the first quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock valued at $27,000 after buying an additional 347 shares during the last quarter. Carroll Financial Associates Inc. acquired a new position in shares of Pegasystems during the second quarter worth about $108,000. Dubuque Bank & Trust Co. acquired a new position in shares of Pegasystems during the first quarter worth about $212,000. NumerixS Investment Technologies Inc acquired a new position in shares of Pegasystems during the first quarter worth about $270,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Pegasystems during the first quarter worth about $283,000. 46.28% of the stock is owned by institutional investors and hedge funds.
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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