Pegasystems (NASDAQ:PEGA) Stock Price Down 7.2%

Pegasystems Inc. (NASDAQ:PEGAGet Rating)’s share price dropped 7.2% during trading on Friday . The stock traded as low as $37.33 and last traded at $37.33. Approximately 5,597 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 482,788 shares. The stock had previously closed at $40.24.

Analyst Upgrades and Downgrades

PEGA has been the subject of several analyst reports. Loop Capital dropped their target price on Pegasystems from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, June 17th. Royal Bank of Canada lowered their price target on Pegasystems from $125.00 to $105.00 in a research report on Friday, June 3rd. The Goldman Sachs Group lowered their price target on Pegasystems from $50.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Truist Financial lowered their price target on Pegasystems from $60.00 to $50.00 in a research report on Thursday, July 28th. Finally, Citigroup began coverage on Pegasystems in a research report on Thursday, September 1st. They set a “neutral” rating and a $39.00 price target for the company. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.00.

Pegasystems Price Performance

The company has a market cap of $3.10 billion, a PE ratio of -8.14 and a beta of 0.96. The company has a debt-to-equity ratio of 4.43, a current ratio of 1.70 and a quick ratio of 1.70. The company has a 50-day moving average price of $41.08 and a two-hundred day moving average price of $55.95.

Pegasystems (NASDAQ:PEGAGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The technology company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.36). The business had revenue of $274.34 million during the quarter, compared to analysts’ expectations of $338.31 million. Pegasystems had a negative net margin of 31.10% and a negative return on equity of 29.68%. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) EPS. Sell-side analysts expect that Pegasystems Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 1,000 shares of the 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 $52,163.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 2,000 shares of company stock valued at $81,000. Insiders own 50.50% of the company’s stock.

Institutional Trading of Pegasystems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bares Capital Management Inc. raised its stake in Pegasystems by 4.2% during the second quarter. Bares Capital Management Inc. now owns 5,283,814 shares of the technology company’s stock valued at $252,778,000 after buying an additional 212,729 shares in the last quarter. TPG GP A LLC raised its stake in Pegasystems by 24.1% during the second quarter. TPG GP A LLC now owns 2,442,279 shares of the technology company’s stock valued at $116,839,000 after buying an additional 473,622 shares in the last quarter. Capital Research Global Investors raised its stake in Pegasystems by 119.1% during the first quarter. Capital Research Global Investors now owns 2,142,547 shares of the technology company’s stock valued at $172,796,000 after buying an additional 1,164,581 shares in the last quarter. Praesidium Investment Management Company LLC raised its stake in Pegasystems by 7.6% during the first quarter. Praesidium Investment Management Company LLC now owns 1,608,263 shares of the technology company’s stock valued at $129,706,000 after buying an additional 112,949 shares in the last quarter. Finally, Riverbridge Partners LLC raised its stake in Pegasystems by 5.9% during the first quarter. Riverbridge Partners LLC now owns 1,494,937 shares of the technology company’s stock valued at $120,567,000 after buying an additional 83,551 shares in the last quarter. Institutional investors and hedge funds own 46.48% of the company’s stock.

Pegasystems Company Profile

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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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