Pegasystems (NASDAQ:PEGA) Upgraded by StockNews.com to Buy Rating

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

Several other research firms also recently weighed in on PEGA. The Goldman Sachs Group lifted their target price on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Wedbush upped their target price on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Loop Capital upgraded Pegasystems from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $84.00 in a report on Thursday, August 1st. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Pegasystems Trading Up 3.1 %

Shares of NASDAQ:PEGA traded up $2.67 during mid-day trading on Thursday, reaching $89.58. The stock had a trading volume of 261,097 shares, compared to its average volume of 543,446. The business’s 50 day moving average price is $76.82 and its 200 day moving average price is $67.59. Pegasystems has a 1 year low of $44.07 and a 1 year high of $91.54. The company has a market cap of $7.68 billion, a P/E ratio of 65.38 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last posted its 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. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. Analysts predict that Pegasystems will post 1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pegasystems news, CAO Efstathios A. Kouninis sold 528 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $71.00, for a total value of $53,250.00. Following the completion of the transaction, the chief accounting officer now owns 2 shares of the company’s stock, valued at approximately $142. The trade was a 99.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,074 shares of company stock valued at $2,838,456. Insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Several hedge funds and other institutional investors have recently bought and sold shares of PEGA. True Wealth Design LLC acquired a new position in Pegasystems in the third quarter valued at approximately $27,000. Versant Capital Management Inc lifted its stake in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after purchasing an additional 756 shares during the period. Venturi Wealth Management LLC boosted its holdings in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after buying an additional 216 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Pegasystems during the third quarter valued at $57,000. Finally, Capital Performance Advisors LLP purchased a new position in Pegasystems in the third quarter valued at $67,000. 46.89% of the stock is owned by institutional investors and hedge funds.

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.