Pegasystems (PEGA) is Reiterated by Wedbush to Outperform, Lowers Price Target to $ 32

Pegasystems (PEGA) was Reiterated by Wedbush to “Outperform” while Lowering the Price Target of the company shares to $ 32 from a previous price target of $34 . Wedbush advised their investors in a research report released on Aug 4, 2016.

Many Wall Street Analysts have commented on Pegasystems. Company shares were Reiterated by Wedbush on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 34 from a previous price target of $33 .

On the company’s financial health, Pegasystems reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.15. The company had revenue of $188.99 million for the quarter, compared to analysts expectations of $185.19 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Pegasystems closed down -0.5 points or -1.80% at $27.24 with 2,09,793 shares getting traded on Tusday. Post opening the session at $27.7, the shares hit an intraday low of $27.2 and an intraday high of $27.78 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Aug 3, 2016, Douglas I Kra (SVP, Global Customer Success) sold 807 shares at $27.78 per share price. According to the SEC, on Aug 3, 2016, Richard H Jones (director) sold 1,200 shares at $27.89 per share price. On Jun 16, 2016, Efstathios A Kouninis (VP of Finance & CAO) sold 396 shares at $27.73 per share price, according to the Form-4 filing with the securities and exchange commission.

Pegasystems Inc. develops markets licenses and supports software applications which is designed to assist clients in building deploying and evolving enterprise applications. The Company’s applications and platform intersect with and encompass several traditional software markets including Customer Relationship Management (CRM); Business Process Management (BPM); Business Rules Management Systems (BRMS); Dynamic Case Management (DCM); Decision Management which includes Predictive and Adaptive analytics and the Vertical Specific Software (VSS) market of industry solutions and packaged applications. The Company provides implementation consulting training technical support and hosting services to facilitate the use of its software. The Company offers its services to financial services healthcare insurance communications and media public sector manufacturing and life sciences markets.


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