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

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

Several other analysts also recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Pegasystems in a research note on Wednesday, June 12th. The Goldman Sachs Group upped their price target on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada upped their price target on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $75.00 price target on shares of Pegasystems in a research note on Tuesday, April 23rd. Finally, Barclays upped their price target on shares of Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.86.

Pegasystems Stock Down 3.0 %

Shares of NASDAQ:PEGA opened at $66.88 on Monday. The company’s fifty day moving average is $59.41 and its two-hundred day moving average is $59.00. Pegasystems has a 12-month low of $37.66 and a 12-month high of $71.27. The company has a market cap of $5.71 billion, a P/E ratio of 81.56 and a beta of 1.08.

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

Insiders Place Their Bets

In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the transaction, the insider now directly owns 50,505 shares of the company’s stock, valued at $3,535,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Sharon T. Rowlands purchased 8,600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $58.63 per share, for a total transaction of $504,218.00. Following the completion of the acquisition, the director now directly owns 30,871 shares of the company’s stock, valued at $1,809,966.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the sale, the insider now owns 50,505 shares of the company’s stock, valued at $3,535,350. The disclosure for this sale can be found here. Insiders have sold 7,504 shares of company stock valued at $460,994 over the last three months. 50.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Pegasystems by 4.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 12,058 shares of the technology company’s stock valued at $730,000 after acquiring an additional 505 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Pegasystems by 2.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 50,021 shares of the technology company’s stock valued at $2,986,000 after acquiring an additional 1,323 shares during the period. Raymond James & Associates bought a new stake in Pegasystems during the second quarter valued at about $1,598,000. SG Americas Securities LLC bought a new stake in Pegasystems during the second quarter valued at about $2,149,000. Finally, CWM LLC boosted its holdings in Pegasystems by 207.0% during the second quarter. CWM LLC now owns 21,203 shares of the technology company’s stock valued at $1,283,000 after acquiring an additional 14,296 shares during the period. 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.