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

Pegasystems (NASDAQ:PEGA) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Other analysts have also issued research reports about the company. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Pegasystems in a research report on Monday, July 29th. William Blair upgraded Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. Finally, Rosenblatt Securities raised their target price on Pegasystems from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.60.

Pegasystems Trading Up 2.1 %

Shares of NASDAQ:PEGA opened at $72.08 on Friday. Pegasystems has a 1-year low of $37.66 and a 1-year high of $74.40. The firm has a market capitalization of $6.13 billion, a PE ratio of 87.90 and a beta of 1.07. The business’s 50 day moving average is $68.47 and its 200-day moving average is $63.23.

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

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the sale, the chief financial officer now owns 17,262 shares in the company, valued at $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the sale, the chief financial officer now owns 17,262 shares in the company, valued at $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard H. Jones sold 15,271 shares of the business’s stock in a transaction 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 approximately $25,746,249.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,955 shares of company stock worth $3,206,247 over the last 90 days. 50.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors have recently made changes to their positions in the stock. Bares Capital Management Inc. grew its stake in shares of Pegasystems by 1.6% during the fourth quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock worth $286,434,000 after purchasing an additional 90,993 shares during the period. Vanguard Group Inc. grew its stake in Pegasystems by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after acquiring an additional 250,273 shares during the period. Pacer Advisors Inc. acquired a new position in Pegasystems in the second quarter valued at about $67,968,000. Luxor Capital Group LP grew its stake in Pegasystems by 7.9% in the second quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock valued at $41,399,000 after acquiring an additional 49,861 shares during the period. Finally, Ranger Investment Management L.P. grew its stake in Pegasystems by 29.9% in the fourth quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after acquiring an additional 143,986 shares during the period. 46.89% of the stock is owned by institutional investors and hedge funds.

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.