Pegasystems (NASDAQ:PEGA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a sell rating in a research note published on Saturday, Zacks.com reports.

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 several other reports. Rosenblatt Securities initiated coverage on Pegasystems in a report on Tuesday, January 21st. They set a buy rating and a $120.00 price objective for the company. KeyCorp raised their target price on Pegasystems from $106.00 to $110.00 and gave the company an overweight rating in a report on Thursday, February 13th. BidaskClub upgraded Pegasystems from a buy rating to a strong-buy rating in a report on Wednesday, January 29th. Wedbush raised their target price on Pegasystems from $99.00 to $116.00 and gave the company an outperform rating in a report on Friday, February 14th. Finally, DA Davidson restated a buy rating and set a $105.00 target price on shares of Pegasystems in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pegasystems has an average rating of Buy and an average target price of $98.57.

Shares of NASDAQ:PEGA opened at $94.31 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. Pegasystems has a 1 year low of $61.99 and a 1 year high of $103.13. The business has a fifty day simple moving average of $89.29 and a 200 day simple moving average of $77.83. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of -82.01 and a beta of 1.18.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.18). Pegasystems had a negative return on equity of 17.78% and a negative net margin of 9.92%. The firm had revenue of $276.54 million for the quarter, compared to analysts’ expectations of $290.22 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. Pegasystems’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Pegasystems will post -0.75 EPS for the current year.

In other Pegasystems news, Director Richard H. Jones sold 14,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $80.09, for a total transaction of $1,121,260.00. Following the transaction, the director now directly owns 299,544 shares in the company, valued at $23,990,478.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 438 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $78.00, for a total value of $34,164.00. Following the transaction, the chief accounting officer now owns 465 shares in the company, valued at $36,270. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,038 shares of company stock worth $1,894,239. Corporate insiders own 52.37% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PEGA. Morgan Stanley raised its holdings in Pegasystems by 176.6% during the second quarter. Morgan Stanley now owns 21,789 shares of the technology company’s stock valued at $1,551,000 after buying an additional 13,912 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Pegasystems by 20.1% in the third quarter. Envestnet Asset Management Inc. now owns 34,981 shares of the technology company’s stock valued at $2,380,000 after purchasing an additional 5,857 shares during the last quarter. Strs Ohio grew its position in shares of Pegasystems by 7.1% in the third quarter. Strs Ohio now owns 5,100 shares of the technology company’s stock valued at $347,000 after purchasing an additional 339 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Pegasystems in the third quarter valued at about $2,749,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Pegasystems by 8.4% in the third quarter. Commonwealth Equity Services LLC now owns 3,484 shares of the technology company’s stock valued at $237,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 45.34% of the company’s stock.

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: FinTech

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