StockNews.com Downgrades Pegasystems (NASDAQ:PEGA) to Hold

StockNews.com downgraded shares of Pegasystems (NASDAQ:PEGA – Get Rating) from a buy rating to a hold rating in a research report report published on Friday.

A number of other equities analysts have also issued reports on the company. Wedbush cut their target price on Pegasystems from $155.00 to $115.00 in a research report on Thursday, February 17th. Macquarie dropped their target price on shares of Pegasystems from $150.00 to $125.00 and set an outperform rating on the stock in a report on Friday, February 18th. Barclays decreased their price target on shares of Pegasystems from $110.00 to $80.00 and set an equal weight rating on the stock in a research report on Tuesday, April 19th. TheStreet cut shares of Pegasystems from a c- rating to a d+ rating in a report on Thursday, January 27th. Finally, KeyCorp lowered their price target on shares of Pegasystems from $147.00 to $129.00 and set an overweight rating on the stock in a report on Thursday, February 17th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $131.30.

PEGA stock opened at $73.27 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.42. The stock has a market cap of $5.98 billion, a P/E ratio of -91.59 and a beta of 1.15. The company’s 50 day moving average is $78.90 and its two-hundred day moving average is $99.74. Pegasystems has a twelve month low of $70.96 and a twelve month high of $143.66.

Pegasystems (NASDAQ:PEGA – Get Rating) last issued its earnings results on Wednesday, February 16th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.08). Pegasystems had a negative return on equity of 16.51% and a negative net margin of 5.20%. The company had revenue of $316.20 million for the quarter, compared to analysts’ expectations of $342.86 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Pegasystems’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts predict that Pegasystems will post -0.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Friday, April 1st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, March 31st. Pegasystems’s dividend payout ratio is -15.00%.

In related news, CFO Kenneth Stillwell sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $100.76, for a total value of $100,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 50.50% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC bought a new position in shares of Pegasystems in the 3rd quarter valued at about $37,000. Ellevest Inc. grew its position in shares of Pegasystems by 292.9% in the 4th quarter. Ellevest Inc. now owns 334 shares of the technology company’s stock valued at $37,000 after acquiring an additional 249 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Pegasystems by 1,294.1% during the 4th quarter. First Horizon Advisors Inc. now owns 474 shares of the technology company’s stock worth $53,000 after buying an additional 440 shares during the last quarter. Covestor Ltd acquired a new stake in shares of Pegasystems during the 4th quarter worth about $59,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Pegasystems during the 4th quarter worth about $60,000. 47.55% of the stock is owned by institutional investors.

Pegasystems Company Profile (Get Rating)

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. 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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