Pegasystems (NASDAQ:PEGA) Receives “Outperform” Rating from Wedbush

Pegasystems (NASDAQ:PEGA)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued to investors on Monday, Benzinga reports. They presently have a $90.00 target price on the technology company’s stock. Wedbush’s price target points to a potential upside of 34.57% from the stock’s current price.

A number of other brokerages have also issued reports on PEGA. Rosenblatt Securities restated a “buy” rating and set a $75.00 target price on shares of Pegasystems in a research report on Tuesday, April 23rd. Barclays increased their target price on shares of Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday. The Goldman Sachs Group increased their target price on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday. JMP Securities restated a “market perform” rating on shares of Pegasystems in a research report on Wednesday, June 12th. Finally, DA Davidson increased their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.86.

Pegasystems Stock Down 3.0 %

Pegasystems stock opened at $66.88 on Monday. The stock has a market cap of $5.71 billion, a P/E ratio of 81.56 and a beta of 1.08. Pegasystems has a twelve month low of $37.66 and a twelve month high of $71.27. The company’s 50-day moving average price is $59.41 and its two-hundred day moving average price is $59.00.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million for the quarter, compared to analysts’ expectations of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.41) EPS. Equities analysts anticipate that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Insider Activity at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.39, for a total value of $120,780.00. Following the completion of the transaction, the chief financial officer now owns 22,884 shares of the company’s stock, valued at approximately $1,381,964.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.39, for a total value of $120,780.00. Following the completion of the transaction, the chief financial officer now owns 22,884 shares of the company’s stock, valued at approximately $1,381,964.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sharon T. Rowlands acquired 8,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average cost of $58.63 per share, with a total value of $504,218.00. Following the purchase, the director now owns 30,871 shares in the company, valued at $1,809,966.73. The disclosure for this purchase can be found here. Insiders sold a total of 7,504 shares of company stock valued at $460,994 in the last quarter. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC raised its stake in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after acquiring an additional 226 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Pegasystems during the fourth quarter valued at $26,000. Parkside Financial Bank & Trust raised its stake in shares of Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after acquiring an additional 364 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Pegasystems by 15,120.0% during the second 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 last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Pegasystems during the fourth quarter valued at $44,000. 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.