Pegasystems (NASDAQ:PEGA) Rating Increased to Buy at StockNews.com

Pegasystems (NASDAQ:PEGA - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

PEGA has been the subject of a number of other reports. Loop Capital raised shares of 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 research report on Thursday, August 1st. Royal Bank of Canada lifted their target price on Pegasystems from $77.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. JMP Securities raised Pegasystems from a "market perform" rating to an "outperform" rating and set a $85.00 target price for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Pegasystems from $78.00 to $83.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Finally, Citigroup lifted their target price on Pegasystems from $87.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Pegasystems currently has a consensus rating of "Moderate Buy" and an average price target of $85.90.

Pegasystems Trading Up 1.6 %

Shares of NASDAQ PEGA traded up $1.37 during midday trading on Tuesday, reaching $89.39. The company's stock had a trading volume of 562,264 shares, compared to its average volume of 547,685. Pegasystems has a fifty-two week low of $44.07 and a fifty-two week high of $89.61. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 64.25 and a beta of 1.06. The stock has a 50 day simple moving average of $73.52 and a 200-day simple moving average of $66.14.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business had revenue of $325.10 million during the quarter, compared to analysts' expectations of $326.16 million. During the same period last year, the business earned $0.14 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Pegasystems will post 1.61 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kenneth Stillwell sold 3,019 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total transaction of $203,933.45. Following the sale, the chief financial officer now directly owns 18,197 shares in the company, valued at approximately $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Kenneth Stillwell sold 3,019 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total transaction of $203,933.45. Following the sale, the chief financial officer now directly owns 18,197 shares in the company, valued at approximately $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard H. Jones sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total value of $698,800.00. Following the completion of the sale, the director now owns 357,058 shares in the company, valued at $24,951,213.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,093 shares of company stock valued at $3,042,389. 50.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Pegasystems

Several institutional investors have recently added to or reduced their stakes in PEGA. Versant Capital Management Inc boosted its holdings in shares of Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company's stock worth $46,000 after buying an additional 756 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock worth $48,000 after purchasing an additional 216 shares during the period. Headlands Technologies LLC raised its position in shares of Pegasystems by 64.0% during the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company's stock worth $56,000 after purchasing an additional 339 shares during the period. Financial Management Professionals Inc. purchased a new stake in Pegasystems in the 3rd quarter valued at $57,000. Finally, Capital Performance Advisors LLP purchased a new stake in Pegasystems in the 3rd quarter valued at $67,000. 46.89% of the stock is currently owned by institutional investors.

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.