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. “
A number of other brokerages have also weighed in on PEGA. ValuEngine raised Pegasystems from a hold rating to a buy rating in a research report on Tuesday, March 17th. BidaskClub downgraded Pegasystems from a strong-buy rating to a buy rating in a research note on Tuesday, June 9th. DA Davidson boosted their target price on Pegasystems from $105.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, June 2nd. Sidoti assumed coverage on Pegasystems in a research note on Tuesday, April 14th. They set a buy rating and a $116.00 target price on the stock. Finally, Goldman Sachs Group assumed coverage on Pegasystems in a research note on Tuesday, May 26th. They set a buy rating and a $105.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Pegasystems presently has an average rating of Buy and a consensus price target of $113.50.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.04. The business had revenue of $265.59 million during the quarter, compared to analyst estimates of $255.98 million. Pegasystems had a negative return on equity of 16.20% and a negative net margin of 9.03%. Pegasystems’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) EPS. As a group, sell-side analysts forecast that Pegasystems will post -1.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems’s payout ratio is presently -9.60%.
In other Pegasystems news, Director Richard H. Jones sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $77.51, for a total transaction of $155,020.00. Following the sale, the director now owns 15,544 shares in the company, valued at approximately $1,204,815.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 607 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $87.13, for a total value of $52,887.91. Following the sale, the chief accounting officer now owns 1,877 shares in the company, valued at approximately $163,543.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,907 shares of company stock worth $1,439,861. Company insiders own 51.89% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Pegasystems by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 5,535 shares of the technology company’s stock valued at $394,000 after buying an additional 210 shares during the period. Greenwood Capital Associates LLC lifted its holdings in shares of Pegasystems by 10.3% in the 1st quarter. Greenwood Capital Associates LLC now owns 4,273 shares of the technology company’s stock valued at $304,000 after buying an additional 400 shares during the period. Synovus Financial Corp lifted its holdings in shares of Pegasystems by 7.2% in the 1st quarter. Synovus Financial Corp now owns 6,015 shares of the technology company’s stock valued at $427,000 after buying an additional 406 shares during the period. Signaturefd LLC acquired a new position in shares of Pegasystems in the 1st quarter valued at about $34,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Pegasystems in the 1st quarter valued at about $34,000. 48.36% of the stock is owned by institutional investors and hedge funds.
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. 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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