Collins Stewart Starts Pegasystems (PEGA) at Hold; Uniquely-Positioned in BPM Market; Recent Move Reflects This
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Price: $31.88 -1.36%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Collins Stewart initiates coverage on Pegasystems (NASDAQ: PEGA) with a Neutral. PT $46.
Collins analyst says, "Following the Chordiant acquisition in 2010, growth in total bookings, license bookings, cash flows, and operating margins all decelerated. We believe these metrics should all accelerate in 2011 with the help of easy comparisons and stabilization post the acquisition as evidenced in 1Q11."
"Despite our positive predisposition to PEGA's growth prospects and market positioning, our initial rating is NEUTRAL. Since June 15, 2011 PEGA’s shares have rallied nearly 30%, which we think reflects a substantial portion of the fundamental improvements we expect for 2011."
For more ratings news on Pegasystems click here and for the rating history of Pegasystems click here.
Shares of Pegasystems closed at $46.55 yesterday.
Collins analyst says, "Following the Chordiant acquisition in 2010, growth in total bookings, license bookings, cash flows, and operating margins all decelerated. We believe these metrics should all accelerate in 2011 with the help of easy comparisons and stabilization post the acquisition as evidenced in 1Q11."
"Despite our positive predisposition to PEGA's growth prospects and market positioning, our initial rating is NEUTRAL. Since June 15, 2011 PEGA’s shares have rallied nearly 30%, which we think reflects a substantial portion of the fundamental improvements we expect for 2011."
For more ratings news on Pegasystems click here and for the rating history of Pegasystems click here.
Shares of Pegasystems closed at $46.55 yesterday.
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