Pegasystems (NASDAQ:PEGA) Stock Rating Upgraded by Citigroup

Pegasystems (NASDAQ:PEGAGet Rating) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat reports. The firm presently has a $45.00 target price on the technology company’s stock, up from their previous target price of $36.00. Citigroup’s price target would indicate a potential upside of 18.05% from the company’s current price.

PEGA has been the topic of a number of other reports. StockNews.com assumed coverage on Pegasystems in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Truist Financial dropped their price target on Pegasystems from $50.00 to $40.00 in a research report on Wednesday, September 28th. Royal Bank of Canada dropped their price target on Pegasystems from $80.00 to $65.00 in a research report on Thursday, October 27th. The Goldman Sachs Group dropped their price target on Pegasystems from $43.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 11th. Finally, Barclays lowered Pegasystems from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $25.00 in a research report on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Pegasystems presently has an average rating of “Hold” and a consensus price target of $57.80.

Pegasystems Stock Up 2.3 %

Shares of Pegasystems stock opened at $38.12 on Wednesday. The stock’s fifty day moving average is $35.71 and its 200-day moving average is $37.36. The firm has a market capitalization of $3.13 billion, a PE ratio of -7.47 and a beta of 1.01. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 9.13. Pegasystems has a 12-month low of $29.05 and a 12-month high of $102.50.

Pegasystems (NASDAQ:PEGAGet Rating) last announced its earnings results on Wednesday, October 26th. The technology company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.21). The company had revenue of $270.73 million for the quarter, compared to analyst estimates of $282.92 million. Pegasystems had a negative return on equity of 43.51% and a negative net margin of 33.73%. Equities analysts anticipate that Pegasystems will post -1.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PEGA. KBC Group NV bought a new stake in shares of Pegasystems during the 2nd quarter worth about $25,000. Wipfli Financial Advisors LLC bought a new stake in shares of Pegasystems during the 3rd quarter worth about $25,000. Quadrant Capital Group LLC boosted its stake in shares of Pegasystems by 690.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 696 shares of the technology company’s stock worth $33,000 after acquiring an additional 608 shares in the last quarter. Ellevest Inc. boosted its stake in shares of Pegasystems by 461.6% during the 2nd quarter. Ellevest Inc. now owns 820 shares of the technology company’s stock worth $39,000 after acquiring an additional 674 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Pegasystems by 502.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,754 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,463 shares in the last quarter. Hedge funds and other institutional investors own 48.22% of the company’s stock.

Pegasystems Company Profile

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Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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