William Blair Begins Coverage on Pegasystems (NASDAQ:PEGA)

William Blair started coverage on shares of Pegasystems (NASDAQ:PEGA – Get Rating) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “market perform” rating on the technology company’s stock.

PEGA has been the subject of several other research reports. Royal Bank of Canada lifted their price target on shares of Pegasystems from $42.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. Citigroup boosted their price objective on shares of Pegasystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Loop Capital boosted their price objective on shares of Pegasystems from $35.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, February 16th. Credit Suisse Group boosted their price objective on shares of Pegasystems from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, February 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Pegasystems from $31.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, February 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.20.

Pegasystems Stock Down 3.2 %

Shares of NASDAQ PEGA opened at $44.43 on Thursday. The company has a debt-to-equity ratio of 4.54, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $3.66 billion, a P/E ratio of -10.50 and a beta of 1.03. Pegasystems has a 1 year low of $29.05 and a 1 year high of $83.41. The firm has a 50-day simple moving average of $40.79 and a two-hundred day simple moving average of $37.04.

Insiders Place Their Bets

In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,622 shares of the company’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $48.59, for a total value of $78,812.98. Following the completion of the transaction, the insider now owns 50,592 shares in the company, valued at $2,458,265.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 50.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its position in shares of Pegasystems by 1,291.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 687,633 shares of the technology company’s stock worth $22,101,000 after acquiring an additional 638,222 shares during the period. Federated Hermes Inc. raised its position in shares of Pegasystems by 63.7% during the 3rd quarter. Federated Hermes Inc. now owns 699,319 shares of the technology company’s stock worth $22,476,000 after purchasing an additional 272,035 shares during the last quarter. Clearline Capital LP acquired a new position in shares of Pegasystems during the 2nd quarter worth about $1,005,000. Bares Capital Management Inc. raised its position in shares of Pegasystems by 3.8% during the 3rd quarter. Bares Capital Management Inc. now owns 5,485,234 shares of the technology company’s stock worth $176,295,000 after purchasing an additional 201,420 shares during the last quarter. Finally, Cadian Capital Management LP raised its position in shares of Pegasystems by 530.9% during the 3rd quarter. Cadian Capital Management LP now owns 1,247,500 shares of the technology company’s stock worth $40,095,000 after purchasing an additional 1,049,770 shares during the last quarter. Institutional investors and hedge funds own 48.22% of the company’s stock.

Pegasystems Company Profile

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Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. Its product Pega Infinity helps connect enterprises to their customers in real-time across channels, streamline business operations, and adapt to meet changing requirements.