Pegasystems (NASDAQ:PEGA) Raised to “Buy” at StockNews.com

Pegasystems (NASDAQ:PEGA) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

PEGA has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price target on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their price target on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Rosenblatt Securities lifted their price target on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Price Performance

Shares of PEGA opened at $90.31 on Tuesday. The stock has a 50-day moving average of $73.95 and a 200-day moving average of $66.33. The company has a market cap of $7.74 billion, a PE ratio of 66.31 and a beta of 1.06. Pegasystems has a one year low of $44.07 and a one year high of $91.54.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS. Analysts expect that Pegasystems will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $70,410.00. Following the sale, the insider now owns 46,505 shares of the company’s stock, valued at approximately $3,274,417.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $70,410.00. Following the sale, the insider now owns 46,505 shares of the company’s stock, valued at approximately $3,274,417.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of Pegasystems stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,093 shares of company stock valued at $3,042,389. 50.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pegasystems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Pegasystems by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after acquiring an additional 250,273 shares during the period. Greenwood Capital Associates LLC purchased a new position in shares of Pegasystems during the 3rd quarter valued at $436,000. Edgestream Partners L.P. purchased a new position in shares of Pegasystems during the 1st quarter valued at $1,161,000. Price T Rowe Associates Inc. MD grew its position in shares of Pegasystems by 309.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock valued at $8,422,000 after purchasing an additional 98,465 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Pegasystems by 6.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 49,541 shares of the technology company’s stock valued at $3,202,000 after purchasing an additional 2,831 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.