Pegasystems (NASDAQ:PEGA) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued reports about the stock. Wedbush restated an “outperform” rating and set a $76.00 price objective on shares of Pegasystems in a research report on Tuesday, June 5th. ValuEngine cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Finally, Zacks Investment Research upgraded shares of Pegasystems from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $69.80.

Pegasystems stock opened at $63.15 on Friday. Pegasystems has a 12-month low of $45.40 and a 12-month high of $67.95. The stock has a market cap of $4.97 billion, a P/E ratio of 287.05, a PEG ratio of 62.32 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.35). Pegasystems had a positive return on equity of 0.01% and a negative net margin of 0.43%. The firm had revenue of $196.78 million for the quarter, compared to analyst estimates of $217.24 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. Pegasystems’s revenue for the quarter was up 5.5% on a year-over-year basis. analysts predict that Pegasystems will post 0.13 EPS for the current year.

In other Pegasystems news, Director Richard H. Jones sold 10,000 shares of Pegasystems stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $62.87, for a total transaction of $628,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 1,949 shares of Pegasystems stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $54.44, for a total transaction of $106,103.56. Following the sale, the chief financial officer now owns 13,749 shares of the company’s stock, valued at $748,495.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,318 shares of company stock valued at $1,447,193. 52.85% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PEGA. Summit Trail Advisors LLC increased its position in shares of Pegasystems by 5,334.8% during the first quarter. Summit Trail Advisors LLC now owns 120,815 shares of the technology company’s stock valued at $121,000 after acquiring an additional 118,592 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Pegasystems during the second quarter valued at about $126,000. Global X Management Co LLC increased its position in shares of Pegasystems by 1,041.1% during the second quarter. Global X Management Co LLC now owns 3,275 shares of the technology company’s stock valued at $179,000 after acquiring an additional 2,988 shares during the last quarter. We Are One Seven LLC increased its position in shares of Pegasystems by 787.4% during the first quarter. We Are One Seven LLC now owns 3,248 shares of the technology company’s stock valued at $197,000 after acquiring an additional 2,882 shares during the last quarter. Finally, Granahan Investment Management Inc. MA acquired a new stake in shares of Pegasystems during the second quarter valued at about $207,000. Institutional investors and hedge funds own 45.39% of the company’s stock.

About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients to build and extend their own applications.

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