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Why Pegasystems Stock Dove 12% Today

TheMotleyFool

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Why Pegasystems Stock Dove 12% TodayPhoto, wide shot, wide-angle lens, Software company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/70b5df15-67cc-4a1b-af41-3596614daf77.png

Pegasystems (NASDAQ: PEGA) shareholders lost ground to the market on Thursday as the stock dropped 12% by 12:30 p.m. ET. The cloud software specialist announced a fiscal 2022 outlook that landed with a thud for investors who were looking for an aggressive growth forecast.

Pegasystems said late Wednesday that sales rose 6% through late December, which was a bit weaker than most investors expected. Revenue had been expanding by 25% through the first nine months of the year.

Image source: Getty Images.

Source Fool.com

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