Pegasystems Inc. (PEGA) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Pegasystems Inc. (NASDAQ:PEGA) from a hold rating to a sell rating in a research report released on Thursday, October 26th.

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 research reports. BidaskClub cut shares of Pegasystems from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Mitsubishi UFJ Financial Group set a $57.00 price objective on shares of Pegasystems and gave the stock a buy rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Pegasystems presently has an average rating of Hold and a consensus price target of $63.00.

Shares of Pegasystems (NASDAQ PEGA) traded down $1.80 during trading on Thursday, hitting $52.10. 584,200 shares of the company’s stock were exchanged, compared to its average volume of 332,566. Pegasystems has a 1-year low of $33.45 and a 1-year high of $64.85. The firm has a market capitalization of $4,030.00, a P/E ratio of 125.35 and a beta of 1.35.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. The firm had revenue of $179.80 million during the quarter, compared to the consensus estimate of $200.15 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. analysts expect that Pegasystems will post 0.5 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, September 29th. Pegasystems’s dividend payout ratio (DPR) is 20.34%.

In other Pegasystems news, CFO Kenneth Stillwell sold 1,228 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $57.97, for a total transaction of $71,187.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Douglas I. Kra sold 1,189 shares of Pegasystems stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $57.82, for a total transaction of $68,747.98. Following the completion of the sale, the senior vice president now directly owns 25,668 shares in the company, valued at approximately $1,484,123.76. The disclosure for this sale can be found here. Insiders sold a total of 17,895 shares of company stock worth $1,011,329 over the last ninety days. Insiders own 53.61% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Daiwa Securities Group Inc. purchased a new stake in shares of Pegasystems during the second quarter worth about $105,000. Sei Investments Co. grew its holdings in shares of Pegasystems by 4,892.9% during the second quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after buying an additional 2,055 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Pegasystems by 666.5% during the second quarter. Citigroup Inc. now owns 4,116 shares of the technology company’s stock worth $240,000 after buying an additional 3,579 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Pegasystems in the second quarter valued at approximately $274,000. Finally, Amalgamated Bank purchased a new stake in Pegasystems in the second quarter valued at approximately $274,000. Institutional investors own 44.45% of the company’s stock.

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.

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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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