NEW YORK ( TheStreet) -- Shares of Pegasystems (Nasdaq: PEGA) were gapping up Thursday morning with an open price 12.1% higher than Wednesday's closing price. The stock closed at $28.08 Wednesday and opened today's trading at $31.49.

The average volume for Pegasystems has been 333,300 shares per day over the past 30 days. Pegasystems has a market cap of $1.06 billion and is part of the technology sector and computer software & services industry. Shares are down 4.5% year to date as of the close of trading on Wednesday.

Pegasystems Inc. develops, markets, licenses, and supports software to automate business processes primarily in the United States, the United Kingdom, and Europe. The company has a P/E ratio of 157.6, above the average computer software & services industry P/E ratio of 156.1 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Pegasystems as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Pegasystems Ratings Report.

Get more investment ideas from our investment research center.

Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.