Pegasystems (NASDAQ:PEGA) Stock Rating Reaffirmed by Rosenblatt Securities

Pegasystems (NASDAQ:PEGA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They currently have a $75.00 price objective on the technology company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 27.38% from the company’s previous close.

A number of other analysts have also recently commented on the company. Barclays dropped their price objective on Pegasystems from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on Pegasystems from $50.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. DA Davidson reissued a “neutral” rating and set a $60.00 price target on shares of Pegasystems in a research report on Monday, March 4th. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a research report on Wednesday, April 10th. Finally, TheStreet upgraded Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Pegasystems Price Performance

PEGA stock opened at $58.88 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $69.26. The business has a 50 day moving average price of $63.09 and a 200 day moving average price of $52.94. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 82.93 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $0.78 by $0.64. Pegasystems had a return on equity of 39.30% and a net margin of 4.73%. The business had revenue of $474.23 million during the quarter, compared to analysts’ expectations of $428.76 million. Equities research analysts anticipate that Pegasystems will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 395 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total value of $25,576.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Efstathios A. Kouninis sold 395 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total value of $25,576.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $66.43, for a total value of $132,860.00. Following the transaction, the chief financial officer now owns 16,000 shares in the company, valued at $1,062,880. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,792 shares of company stock worth $2,781,669. Insiders own 50.20% of the company’s stock.

Institutional Trading of Pegasystems

Hedge funds and other institutional investors have recently modified their holdings of the company. Bares Capital Management Inc. increased its position in shares of Pegasystems by 1.6% in the fourth quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock valued at $286,434,000 after acquiring an additional 90,993 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Pegasystems by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company’s stock valued at $250,113,000 after acquiring an additional 114,848 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Pegasystems by 3.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock valued at $46,227,000 after acquiring an additional 31,925 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Pegasystems by 4.9% in the third quarter. Federated Hermes Inc. now owns 808,001 shares of the technology company’s stock valued at $35,075,000 after acquiring an additional 37,880 shares during the last quarter. Finally, Ranger Investment Management L.P. grew its holdings in Pegasystems by 29.9% during the fourth quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after purchasing an additional 143,986 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.