Pegasystems (NASDAQ:PEGA) Stock Rating Upgraded by BidaskClub

Pegasystems (NASDAQ:PEGA) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Friday, BidAskClub reports.

A number of other analysts also recently issued reports on the company. ValuEngine downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Goldman Sachs Group raised their price objective on Pegasystems from $105.00 to $119.00 in a research report on Monday, June 29th. KeyCorp raised their price objective on Pegasystems from $112.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday. DA Davidson raised their price objective on Pegasystems from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Rosenblatt Securities raised their price objective on Pegasystems from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Pegasystems has a consensus rating of “Buy” and an average target price of $117.44.

Shares of PEGA traded up $1.91 during midday trading on Friday, reaching $116.89. The company had a trading volume of 348,150 shares, compared to its average volume of 317,835. Pegasystems has a 1-year low of $38.01 and a 1-year high of $117.00. The stock has a market cap of $9.40 billion, a PE ratio of -123.04 and a beta of 1.28. The firm has a 50 day simple moving average of $99.83 and a 200-day simple moving average of $88.20. The company has a quick ratio of 2.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.01.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, July 28th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The company had revenue of $227.38 million during the quarter, compared to analyst estimates of $225.77 million. Pegasystems had a negative return on equity of 16.83% and a negative net margin of 7.66%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned ($0.30) earnings per share. As a group, sell-side analysts anticipate that Pegasystems will post -1.01 earnings per share for the current fiscal year.

In other news, SVP Douglas I. Kra sold 6,810 shares of Pegasystems stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $83.72, for a total value of $570,133.20. Following the completion of the transaction, the senior vice president now owns 52,160 shares in the company, valued at approximately $4,366,835.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Leon Trefler sold 2,627 shares of Pegasystems stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $102.58, for a total value of $269,477.66. Following the completion of the transaction, the senior vice president now owns 12,277 shares of the company’s stock, valued at approximately $1,259,374.66. The disclosure for this sale can be found here. Insiders have sold a total of 16,534 shares of company stock valued at $1,507,039 over the last 90 days. 51.89% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Lenox Wealth Advisors LLC purchased a new position in shares of Pegasystems in the 2nd quarter valued at about $25,000. Exchange Traded Concepts LLC purchased a new position in shares of Pegasystems in the 2nd quarter valued at about $33,000. Signaturefd LLC purchased a new position in shares of Pegasystems in the 1st quarter valued at about $34,000. Asset Management One Co. Ltd. purchased a new position in shares of Pegasystems in the 1st quarter valued at about $34,000. Finally, Pacifica Partners Inc. acquired a new stake in shares of Pegasystems during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 48.30% of the company’s stock.

About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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