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Pegasystems, Inc. (PEGA)

Today we have a new recommendation from Shortex Editor Joseph Parnes.

Pegasystems, Inc. (PEGA, $27) -- The developer/marketer of software (PegaCloud) is the beneficiary of higher demand for its software from both existing and new customers. Q4 earnings were $20.4 million or 53 cents per share, vs. a loss of $11.9...

Today we have a new recommendation from Shortex Editor Joseph Parnes.

Pegasystems, Inc. (PEGA, $27) — The developer/marketer of software (PegaCloud) is the beneficiary of higher demand for its software from both existing and new customers. Q4 earnings were $20.4 million or 53 cents per share, vs. a loss of $11.9 million and a loss of five cents per share. Pegasystems expects adjusted 2013 profits of $1.20 per share on revenue of $510 million, vs. consensus of 88 cents per share on revenue of $477.8 million.

“PEGA is rocketing through primary resistance at 24-25; we could see it challenge secondary resistance at 31-32. Buying Range: 26-29. Near-term Objective: 36. Intermediate-term Objective: 42. Stop loss: 23.80.”

- Joseph Parnes, Shortex Market Letter, February 27, 2013