Pegasystems (NASDAQ:PEGA) Stock Rating Lowered by Macquarie

Macquarie cut shares of Pegasystems (NASDAQ:PEGAGet Rating) from an outperform rating to a neutral rating in a report released on Monday morning, Marketbeat reports. They currently have $54.00 target price on the technology company’s stock.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Pegasystems from $125.00 to $105.00 in a report on Friday, June 3rd. Barclays lowered their price target on shares of Pegasystems from $80.00 to $50.00 and set an equal weight rating for the company in a report on Monday, July 18th. Loop Capital lowered their price target on shares of Pegasystems from $60.00 to $50.00 and set a hold rating for the company in a report on Friday, June 17th. StockNews.com cut shares of Pegasystems from a buy rating to a hold rating in a report on Sunday, May 8th. Finally, Truist Financial cut shares of Pegasystems from a buy rating to a hold rating and lowered their price target for the stock from $110.00 to $60.00 in a report on Wednesday, May 11th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $79.22.

Pegasystems Trading Down 4.5 %

Shares of PEGA stock opened at $47.82 on Monday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market capitalization of $3.91 billion, a P/E ratio of -66.42 and a beta of 1.09. The company has a 50 day moving average price of $49.02 and a 200 day moving average price of $70.52. Pegasystems has a fifty-two week low of $36.50 and a fifty-two week high of $142.55.

Pegasystems (NASDAQ:PEGAGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.52. The firm had revenue of $376.30 million during the quarter, compared to analysts’ expectations of $363.95 million. Pegasystems had a negative net margin of 4.46% and a negative return on equity of 10.05%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Equities research analysts predict that Pegasystems will post -0.11 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were given a $0.03 dividend. The ex-dividend date was Thursday, June 30th. This represents a $0.12 annualized dividend and a yield of 0.25%. Pegasystems’s dividend payout ratio (DPR) is -16.67%.

Hedge Funds Weigh In On Pegasystems

A number of large investors have recently bought and sold shares of the company. Ellevest Inc. raised its position in Pegasystems by 461.6% during the 2nd quarter. Ellevest Inc. now owns 820 shares of the technology company’s stock worth $39,000 after buying an additional 674 shares during the last quarter. Diversified Trust Co purchased a new position in Pegasystems during the 2nd quarter worth $302,000. Amalgamated Bank raised its position in Pegasystems by 8.8% during the 1st quarter. Amalgamated Bank now owns 9,338 shares of the technology company’s stock worth $753,000 after buying an additional 756 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Pegasystems by 7.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,348 shares of the technology company’s stock worth $1,238,000 after buying an additional 1,039 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Pegasystems during the 1st quarter worth $410,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.

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