Pegasystems (NASDAQ:PEGA) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a buy rating in a report issued on Tuesday morning, BidAskClub reports.

PEGA has been the subject of a number of other reports. Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a research note on Wednesday, July 10th. TheStreet downgraded Wayside Technology Group from a b- rating to a c rating in a research note on Wednesday, May 22nd. UBS Group reiterated a buy rating and issued a $25.00 price target on shares of Infineon Technologies in a research note on Tuesday, May 7th. JMP Securities lifted their price target on Pegasystems from $72.00 to $81.00 and gave the stock a market outperform rating in a research note on Wednesday, May 8th. Finally, Benchmark reiterated a buy rating and issued a $80.00 price target (up from $72.00) on shares of Pegasystems in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $79.20.

NASDAQ:PEGA opened at $75.54 on Tuesday. Pegasystems has a one year low of $43.21 and a one year high of $78.61. The stock has a 50-day moving average price of $72.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.86 and a quick ratio of 1.86.



Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.24). The firm had revenue of $212.50 million during the quarter, compared to analyst estimates of $237.63 million. Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. On average, analysts predict that Pegasystems will post -0.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%.

In other Pegasystems news, SVP Leon Trefler sold 772 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $71.95, for a total value of $55,545.40. Following the transaction, the senior vice president now owns 12,710 shares of the company’s stock, valued at $914,484.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 500 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $70.00, for a total transaction of $35,000.00. The disclosure for this sale can be found here. Insiders sold 30,251 shares of company stock worth $2,178,587 in the last three months. 52.37% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new position in Pegasystems during the 2nd quarter worth approximately $228,000. Riverbridge Partners LLC boosted its stake in shares of Pegasystems by 36.9% during the 2nd quarter. Riverbridge Partners LLC now owns 1,065,549 shares of the technology company’s stock valued at $75,878,000 after buying an additional 287,448 shares during the period. Scout Investments Inc. boosted its stake in shares of Pegasystems by 64.9% during the 2nd quarter. Scout Investments Inc. now owns 158,247 shares of the technology company’s stock valued at $11,269,000 after buying an additional 62,284 shares during the period. Carroll Financial Associates Inc. acquired a new stake in shares of Pegasystems during the 2nd quarter valued at $108,000. Finally, FMR LLC boosted its stake in shares of Pegasystems by 8.6% during the 1st quarter. FMR LLC now owns 1,080,075 shares of the technology company’s stock valued at $70,205,000 after buying an additional 85,576 shares during the period. 46.28% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Company Profile

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.

Further Reading: Diversification

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