Pegasystems (NASDAQ:PEGA) Upgraded to “Strong-Buy” by StockNews.com

Pegasystems (NASDAQ:PEGA) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

A number of other research analysts also recently weighed in on PEGA. Barclays raised their target price on shares of Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. JMP Securities raised Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Pegasystems in a report on Monday, July 29th. JPMorgan Chase & Co. raised 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. Finally, Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $84.00 in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

Pegasystems Price Performance

PEGA stock opened at $79.96 on Friday. The stock has a market capitalization of $6.83 billion, a P/E ratio of 55.15 and a beta of 1.07. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $80.12. The business has a 50-day moving average of $69.99 and a 200-day moving average of $64.01.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The business’s revenue was down 2.8% on a year-over-year basis. Equities analysts expect that Pegasystems will post 1.54 EPS for the current year.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,067.50. Following the transaction, the chief accounting officer now directly owns 752 shares in the company, valued at $54,211.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,211.68. Following the transaction, the insider now owns 38,412 shares in the company, valued at approximately $2,769,121.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,955 shares of company stock valued at $3,136,247 in the last quarter. 50.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pegasystems

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc raised its stake in Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after purchasing an additional 756 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Pegasystems during the third quarter worth approximately $57,000. Headlands Technologies LLC raised its position in shares of Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after buying an additional 339 shares in the last quarter. Covestor Ltd boosted its stake in shares of Pegasystems by 633.9% in the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after buying an additional 1,065 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Pegasystems during the second quarter worth approximately $104,000. Institutional investors own 46.89% of the company’s stock.

About Pegasystems

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.