Pegasystems (NASDAQ:PEGA) Lifted to “Hold” at Zacks Investment Research

Pegasystems (NASDAQ:PEGAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, 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 reports about the stock. JMP Securities cut their price objective on shares of Pegasystems from $172.00 to $155.00 and set a “market outperform” rating for the company in a research report on Thursday, February 17th. Barclays dropped their target price on shares of Pegasystems from $110.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday. StockNews.com lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. Loop Capital lowered shares of Pegasystems from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research report on Thursday, February 17th. Finally, Truist Financial assumed coverage on shares of Pegasystems in a research report on Tuesday, March 8th. They set a “buy” rating and a $110.00 target price for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $131.30.

PEGA stock opened at $75.73 on Wednesday. The firm has a 50 day moving average of $80.96 and a 200-day moving average of $101.36. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.42. Pegasystems has a 12 month low of $71.61 and a 12 month high of $143.66. The firm has a market capitalization of $6.18 billion, a P/E ratio of -94.66 and a beta of 1.15.

Pegasystems (NASDAQ:PEGAGet Rating) last released its quarterly earnings data on Wednesday, February 16th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08). Pegasystems had a negative net margin of 5.20% and a negative return on equity of 16.51%. The firm had revenue of $316.20 million during the quarter, compared to the consensus estimate of $342.86 million. During the same quarter last year, the business posted ($0.05) earnings per share. Pegasystems’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts predict that Pegasystems will post -0.35 EPS for the current year.

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $100.76, for a total transaction of $100,760.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 50.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PEGA. Manchester Capital Management LLC purchased a new position in shares of Pegasystems in the third quarter worth $37,000. Ellevest Inc. increased its stake in shares of Pegasystems by 292.9% in the fourth quarter. Ellevest Inc. now owns 334 shares of the technology company’s stock worth $37,000 after buying an additional 249 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Pegasystems by 1,294.1% in the fourth 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 period. Covestor Ltd purchased a new position in shares of Pegasystems in the fourth quarter worth $59,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Pegasystems in the fourth quarter worth $60,000. 47.55% of the stock is currently 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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