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

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

A number of other research analysts have also recently weighed in on PEGA. Royal Bank of Canada lifted their price objective on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $84.00 in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Pegasystems in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays lifted their target price on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

Pegasystems Price Performance

Shares of PEGA stock traded down $0.37 during trading hours on Monday, reaching $73.47. 232,555 shares of the company traded hands, compared to its average volume of 539,784. Pegasystems has a 12-month low of $37.66 and a 12-month high of $74.50. The company has a market cap of $6.25 billion, a P/E ratio of 89.60 and a beta of 1.07. The firm has a 50-day moving average price of $69.07 and a 200 day moving average price of $63.54.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $351.20 million for the quarter, compared to analysts’ expectations of $323.55 million. During the same period in the previous year, the firm earned ($0.41) EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts predict that Pegasystems will post 1.54 EPS for the current year.

Insiders Place Their Bets

In other Pegasystems news, Director Richard H. Jones sold 15,271 shares of Pegasystems stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $69.25, for a total value of $1,057,516.75. Following the sale, the director now owns 371,787 shares of the company’s stock, valued at $25,746,249.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total value of $73,170.00. Following the completion of the transaction, the chief financial officer now owns 17,262 shares in the company, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Jones sold 15,271 shares of Pegasystems stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $69.25, for a total value of $1,057,516.75. Following the completion of the transaction, the director now owns 371,787 shares of the company’s stock, valued at approximately $25,746,249.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,955 shares of company stock valued at $3,206,247 in the last quarter. 50.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares during the period. Headlands Technologies LLC boosted its holdings in Pegasystems by 64.0% during the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after acquiring an additional 339 shares during the period. Covestor Ltd boosted its holdings in Pegasystems by 633.9% during the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,065 shares during the period. Point72 Hong Kong Ltd purchased a new position in Pegasystems during the 2nd quarter valued at $104,000. Finally, Picton Mahoney Asset Management purchased a new position in Pegasystems during the 2nd quarter valued at $124,000. Hedge funds and other 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.