Pegasystems (NASDAQ:PEGA) Downgraded by Macquarie

Macquarie downgraded shares of Pegasystems (NASDAQ:PEGAGet Rating) from an outperform rating to a neutral rating in a research report released on Wednesday. They currently have $54.00 target price on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. Truist Financial dropped their target price on shares of Pegasystems from $60.00 to $50.00 in a research report on Thursday, July 28th. JMP Securities cut shares of Pegasystems from an outperform rating to a market perform rating in a research report on Thursday, May 12th. Royal Bank of Canada dropped their target price on shares of Pegasystems from $125.00 to $105.00 in a research report on Friday, June 3rd. Loop Capital dropped their target price on shares of Pegasystems from $60.00 to $50.00 and set a hold rating for the company in a research report on Friday, June 17th. Finally, Barclays dropped their target price on shares of Pegasystems from $80.00 to $50.00 and set an equal weight rating for the company in a research report on Monday, July 18th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $69.00.

Pegasystems Trading Up 0.6 %

PEGA stock opened at $38.95 on Wednesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 1.70 and a current ratio of 1.70. The company has a 50 day moving average price of $47.77 and a 200 day moving average price of $67.27. Pegasystems has a fifty-two week low of $36.50 and a fifty-two week high of $142.55.

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

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Thursday, June 30th. Pegasystems’s dividend payout ratio (DPR) is -2.58%.

Hedge Funds Weigh In On Pegasystems

Several institutional investors and hedge funds have recently made changes to their positions in PEGA. Allspring Global Investments Holdings LLC acquired a new position in Pegasystems in the 4th quarter worth $68,000. State of New Jersey Common Pension Fund D boosted its stake in Pegasystems by 10.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 23,417 shares of the technology company’s stock worth $2,618,000 after purchasing an additional 2,136 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Pegasystems by 33.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 12,683 shares of the technology company’s stock worth $1,418,000 after purchasing an additional 3,152 shares during the period. Fisher Asset Management LLC boosted its stake in Pegasystems by 4.7% in the 4th quarter. Fisher Asset Management LLC now owns 722,455 shares of the technology company’s stock worth $80,785,000 after purchasing an additional 32,502 shares during the period. Finally, Duality Advisers LP acquired a new position in Pegasystems in the 4th quarter worth $678,000. Institutional investors and hedge funds own 48.55% 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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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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