Zacks Investment Research Upgrades Pegasystems (NASDAQ:PEGA) to Strong-Buy

Pegasystems (NASDAQ:PEGAGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm currently has a $87.00 price target on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 23.95% from the stock’s current price.

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 company. Barclays reduced their price objective on Pegasystems from $110.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, April 19th. Wedbush cut their price target on Pegasystems from $155.00 to $115.00 in a report on Thursday, February 17th. Truist Financial started coverage on Pegasystems in a report on Tuesday, March 8th. They issued a “buy” rating and a $110.00 price target for the company. The Goldman Sachs Group started coverage on Pegasystems in a report on Wednesday. They issued a “neutral” rating and a $86.00 price target for the company. Finally, Loop Capital lowered Pegasystems from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a report on Thursday, February 17th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems presently has an average rating of “Buy” and an average target price of $110.70.

Shares of NASDAQ PEGA opened at $70.19 on Friday. The stock has a fifty day simple moving average of $77.14 and a two-hundred day simple moving average of $97.09. Pegasystems has a 1-year low of $68.21 and a 1-year high of $143.66. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of -97.49 and a beta of 1.11. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.45.

Pegasystems (NASDAQ:PEGAGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.76. Pegasystems had a negative return on equity of 10.05% and a negative net margin of 4.46%. The business had revenue of $376.30 million during the quarter, compared to analyst estimates of $363.95 million. During the same period in the prior year, the company earned ($0.03) earnings per share. Pegasystems’s revenue was up 20.0% compared to the same quarter last year. Analysts forecast that Pegasystems will post -0.29 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maryland Capital Management increased its holdings in shares of Pegasystems by 2.7% in the third quarter. Maryland Capital Management now owns 3,986 shares of the technology company’s stock worth $507,000 after buying an additional 105 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Pegasystems by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 3,270 shares of the technology company’s stock worth $366,000 after buying an additional 122 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Pegasystems by 11.6% in the third quarter. First Mercantile Trust Co. now owns 1,181 shares of the technology company’s stock worth $150,000 after buying an additional 123 shares during the period. Ironwood Investment Management LLC increased its holdings in shares of Pegasystems by 0.3% in the fourth quarter. Ironwood Investment Management LLC now owns 46,734 shares of the technology company’s stock worth $5,226,000 after buying an additional 132 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Pegasystems by 22.2% in the first quarter. Signaturefd LLC now owns 737 shares of the technology company’s stock worth $59,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

About Pegasystems (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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