Pegasystems Is One Hot Tech Stock
I told you…
About a year ago today, I told you Pegasystems (PEGA) was a great buy. At the time, the stock was trading for $32.
As you can see, PEGA didn’t get off to a great start. Not too long after I wrote about PEGA, their earnings came in weaker than expected. But since then, the stock’s been on fire… today PEGA trades for more than $46 per share.
That’s an impressive 43% return. But that’s chump change compared to the 738% gain Elite Option Trader subscribers made. I recommended call options on PEGA in August when the stock was trading for $21.
With impressive results over the last year, is it time to cash out of PEGA? Or should you let this one ride?
I’ll get to that in a moment… First, let’s take a look at what’s fueling this impressive run.
PEGA’s a leader in the CRM and business automation software industry. Management has coined the phrase “THE Software For Customer Centricity” to describe their vision.
And for good reason… PEGA’s software is designed to improve customer experience, increase sales, and lower costs. And more importantly, they’ve developed a reputation for being able to deliver on those promises.
As a result, PEGA has developed an impressive client list of major companies in financial services, healthcare, telecom, manufacturing, and retail services.
The beauty of PEGA’s business is they’re able to grow in any business environment. In fact, since the company committed to fully developing their BPM software in 2005, sales are up more than 400%… including five consecutive years of 30% revenue growth.
And Fortune recently named PEGA the third fastest growing tech company!
Clearly, PEGA is in the midst of a major growth spurt. And they’re well on their way to their goal of being a $1 billion per year player in the industry.
The key to their success is a commitment to innovation. They invent great products and then they implement them for their customers.
The bottom line is PEGA’s a great growth stock…
They have a best in class product. And their commitment to increasing revenue through acquisitions and growing sales force has the company on the right track.
But that’s not all…
Several of PEGA’s biggest competitors have been gobbled up by the likes of Cisco Systems (CSCO) and International Business Machines (IBM). Now, PEGA is 10 times bigger than their closest pure competitor.
That’s great news for PEGA… They’re now the dominant player in the CRM space.
I think PEGA’s future is as bright as ever. This is one fast growing tech stock you’ll want to hold on to.
Category: Stocks
