Pegasystems Inc. (NASDAQ:PEGA – Get Rating) has received a consensus recommendation of "Hold" from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $53.88.
Several research analysts recently weighed in on PEGA shares. Royal Bank of Canada dropped their target price on Pegasystems from $125.00 to $105.00 in a research note on Friday, June 3rd. Loop Capital dropped their price target on Pegasystems from $60.00 to $50.00 and set a "hold" rating on the stock in a research note on Friday, June 17th. Wedbush downgraded Pegasystems from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $95.00 to $40.00 in a research note on Thursday, July 28th. KeyCorp initiated coverage on Pegasystems in a research note on Monday, September 12th. They set a "sector weight" rating on the stock. Finally, Macquarie downgraded Pegasystems from an "outperform" rating to a "neutral" rating and set a $54.00 price target on the stock. in a research note on Wednesday, August 3rd.
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Insider Buying and Selling
In related news, CAO Efstathios A. Kouninis sold 1,000 shares of the company's stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $39.85, for a total value of $39,850.00. Following the completion of the transaction, the chief accounting officer now owns 1,309 shares of the company's stock, valued at approximately $52,163.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 2,000 shares of company stock valued at $81,000. 50.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Pegasystems
Large investors have recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of Pegasystems during the second quarter valued at approximately $25,000. Quadrant Capital Group LLC raised its holdings in shares of Pegasystems by 690.9% during the second quarter. Quadrant Capital Group LLC now owns 696 shares of the technology company's stock valued at $33,000 after acquiring an additional 608 shares during the last quarter. Ellevest Inc. raised its holdings in shares of Pegasystems by 461.6% during the second quarter. Ellevest Inc. now owns 820 shares of the technology company's stock valued at $39,000 after acquiring an additional 674 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Pegasystems by 66.7% during the first quarter. Steward Partners Investment Advisory LLC now owns 500 shares of the technology company's stock valued at $40,000 after acquiring an additional 200 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Pegasystems by 22.2% during the first quarter. Signaturefd LLC now owns 737 shares of the technology company's stock valued at $59,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds own 46.48% of the company's stock.
Pegasystems Trading Down 5.9 %
PEGA opened at $37.85 on Friday. Pegasystems has a 12 month low of $35.03 and a 12 month high of $136.79. The stock has a fifty day moving average price of $41.08 and a 200-day moving average price of $55.95. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 4.43. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -8.14 and a beta of 0.96.
Pegasystems (NASDAQ:PEGA – Get Rating) last announced its earnings results on Wednesday, July 27th. The technology company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.36). Pegasystems had a negative return on equity of 29.68% and a negative net margin of 31.10%. The business had revenue of $274.34 million for the quarter, compared to analysts' expectations of $338.31 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm's quarterly revenue was down 15.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Pegasystems will post -0.69 earnings per share for the current fiscal year.
About Pegasystems
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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.
Further Reading
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