Pegasystems (PEGA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a strong sell rating in a research note published on Tuesday morning, 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. “

Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of Pegasystems from a buy rating to a hold rating in a research report on Thursday, May 9th. Wedbush reaffirmed an outperform rating and set a $90.00 price objective (up previously from $84.00) on shares of Pegasystems in a research report on Wednesday, May 8th. They noted that the move was a valuation call. JMP Securities raised their price objective 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 reaffirmed a buy rating and set a $80.00 price objective (up previously from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. Finally, TheStreet raised shares of Pegasystems from a c rating to a b- rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $79.20.

Shares of PEGA opened at $68.13 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.86 and a current ratio of 1.86. Pegasystems has a twelve month low of $43.21 and a twelve month high of $76.49.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.24). The business had revenue of $212.50 million for the quarter, compared to the consensus estimate of $237.63 million. Pegasystems had a negative net margin of 3.49% and a negative return on equity of 4.85%. Pegasystems’s revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. On average, equities analysts expect that Pegasystems will post -0.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Friday, March 29th.

In other news, CAO Efstathios A. Kouninis sold 500 shares of Pegasystems stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.00, for a total value of $35,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Leon Trefler sold 1,464 shares of Pegasystems stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $73.67, for a total transaction of $107,852.88. Following the completion of the transaction, the senior vice president now directly owns 10,555 shares in the company, valued at approximately $777,586.85. The disclosure for this sale can be found here. In the last three months, insiders sold 52,903 shares of company stock worth $3,456,274. Insiders own 52.85% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PEGA. PNC Financial Services Group Inc. grew its stake in shares of Pegasystems by 4.6% in the first quarter. PNC Financial Services Group Inc. now owns 4,489 shares of the technology company’s stock worth $291,000 after acquiring an additional 196 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Pegasystems by 46.1% in the fourth quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock worth $37,000 after acquiring an additional 250 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Pegasystems by 0.5% in the first quarter. California State Teachers Retirement System now owns 59,518 shares of the technology company’s stock worth $3,869,000 after acquiring an additional 269 shares during the last quarter. Quantamental Technologies LLC grew its stake in shares of Pegasystems by 542.2% in the first quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after acquiring an additional 347 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pegasystems by 22.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock worth $130,000 after acquiring an additional 495 shares during the last quarter. 47.32% of the stock is currently owned by institutional investors.

About Pegasystems

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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