Pegasystems (PEGA) Stock Rating Lowered by BidaskClub

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

Several other brokerages have also recently weighed in on PEGA. Zacks Investment Research cut Pegasystems from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. TheStreet cut Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $63.00.

Shares of Pegasystems (NASDAQ PEGA) opened at $51.60 on Friday. The firm has a market capitalization of $3,982.54, a PE ratio of 93.82 and a beta of 1.25. Pegasystems has a one year low of $37.70 and a one year high of $64.85.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $200.15 million. Pegasystems had a negative return on equity of 1.96% and a negative net margin of 1.01%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. equities research analysts anticipate that Pegasystems will post 0.26 earnings per share for the current fiscal year.

In related news, VP Michael R. Pyle sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $47.61, for a total transaction of $190,440.00. Following the completion of the sale, the vice president now owns 46,524 shares of the company’s stock, valued at $2,215,007.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 728 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold 16,406 shares of company stock valued at $845,950 in the last ninety days. 53.61% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Janus Henderson Group PLC bought a new position in Pegasystems in the second quarter worth approximately $410,000. Koch Industries Inc. bought a new position in Pegasystems in the second quarter worth approximately $646,000. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Pegasystems by 19.2% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 676,590 shares of the technology company’s stock worth $39,005,000 after acquiring an additional 108,795 shares in the last quarter. Amalgamated Bank bought a new position in Pegasystems in the second quarter worth approximately $274,000. Finally, TCW Group Inc. bought a new position in Pegasystems in the third quarter worth approximately $6,146,000. Institutional investors and hedge funds own 45.80% of the company’s stock.

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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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