Pegasystems (PEGA) Stock Rating Lowered by BidaskClub

Pegasystems (NASDAQ:PEGA) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

PEGA has been the subject of several other reports. ValuEngine upgraded Pegasystems from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Wedbush reiterated an “outperform” rating and issued a $76.00 target price (down from $78.00) on shares of Pegasystems in a research note on Monday, August 6th. Finally, Zacks Investment Research upgraded Pegasystems from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $69.80.

Pegasystems stock opened at $54.00 on Friday. The firm has a market capitalization of $4.92 billion, a P/E ratio of 245.45, a price-to-earnings-growth ratio of 61.78 and a beta of 1.07. Pegasystems has a 52 week low of $45.40 and a 52 week high of $67.95.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, August 8th. The technology company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.35). The business had revenue of $196.78 million during the quarter, compared to analyst estimates of $217.24 million. Pegasystems had a negative net margin of 0.43% and a positive return on equity of 0.01%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. Equities analysts predict that Pegasystems will post 0.13 EPS for the current fiscal year.

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $55.85, for a total transaction of $55,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Efstathios A. Kouninis sold 403 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $63.50, for a total value of $25,590.50. Following the sale, the vice president now owns 12,639 shares of the company’s stock, valued at $802,576.50. The disclosure for this sale can be found here. Insiders have sold 27,869 shares of company stock valued at $1,742,669 over the last 90 days. 52.85% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. NumerixS Investment Technologies Inc acquired a new stake in shares of Pegasystems in the second quarter valued at about $126,000. Global X Management Co LLC grew its stake in shares of Pegasystems by 1,041.1% in the second quarter. Global X Management Co LLC now owns 3,275 shares of the technology company’s stock valued at $179,000 after buying an additional 2,988 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Pegasystems in the first quarter valued at about $218,000. Granahan Investment Management Inc. MA acquired a new stake in shares of Pegasystems in the second quarter valued at about $207,000. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of Pegasystems in the second quarter valued at about $228,000. Institutional investors own 45.38% of the company’s stock.

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 to build and extend their own applications.

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