Pegasystems (NASDAQ:PEGA) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.

A number of other brokerages have also recently commented on PEGA. Zacks Investment Research raised Pegasystems from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. ValuEngine cut Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Wedbush reaffirmed an “outperform” rating and set a $76.00 price target on shares of Pegasystems in a research report on Tuesday, June 5th. DA Davidson initiated coverage on Pegasystems in a research report on Thursday, April 26th. They set a “buy” rating and a $72.00 price target for the company. Finally, TheStreet cut Pegasystems from a “b” rating to a “c+” rating in a research report on Thursday, May 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $69.80.

Shares of PEGA opened at $60.05 on Tuesday. Pegasystems has a one year low of $45.40 and a one year high of $67.95. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 272.95, a PEG ratio of 12.84 and a beta of 1.00.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.16) EPS for the quarter, missing the Zacks’ 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 period in the prior year, the firm posted $0.05 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. equities analysts forecast that Pegasystems will post 0.58 earnings per share for the current year.

In other news, CFO Kenneth Stillwell sold 2,075 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $62.29, for a total value of $129,251.75. Following the completion of the transaction, the chief financial officer now owns 14,671 shares of the company’s stock, valued at approximately $913,856.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Efstathios A. Kouninis sold 722 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $65.11, for a total value of $47,009.42. Following the completion of the transaction, the vice president now directly owns 1,472 shares of the company’s stock, valued at approximately $95,841.92. The disclosure for this sale can be found here. In the last three months, insiders sold 21,630 shares of company stock valued at $1,354,215. Insiders own 52.85% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Pegasystems by 1,583.0% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 35,545 shares of the technology company’s stock valued at $2,155,000 after buying an additional 33,433 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Pegasystems by 29.0% in the 1st quarter. SG Americas Securities LLC now owns 7,471 shares of the technology company’s stock valued at $453,000 after buying an additional 1,679 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Pegasystems in the 1st quarter valued at about $722,000. Allianz Asset Management GmbH lifted its holdings in shares of Pegasystems by 4.0% in the 1st quarter. Allianz Asset Management GmbH now owns 744,134 shares of the technology company’s stock valued at $45,132,000 after buying an additional 28,390 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Pegasystems in the 1st quarter valued at about $1,606,000. 45.82% of the stock is owned by institutional investors and hedge funds.

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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