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Baron Funds Comments on Pegasystems Inc.
Posted by: guruhl (IP Logged)
Date: December 14, 2012 11:56AM
Pegasystems, Inc. (PEGA) is the developer of a software tool used to automate manual business processes. Shares fell 11.9% in the third quarter due to concerns over global economic conditions and the impact on software sales. Despite near-term potential headwinds, we estimate that Pegasystems' software bookings are trending ahead of industry growth.We expect Pegasystems to grow significantly faster than the overall business process management market due to its superior product, growing sales force, expanding product set, enhanced partnerships, and a positive network effect. (Neal Rosenberg)
From Baron Funds’ third quarter 2012 letter.
Guru Discussed: Ron Baron: Current Portfolio, Stock Picks
Stocks Discussed: PEGA,
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