Pegasystems Inc. (PEGA) Given Average Recommendation of “Buy” by Brokerages
Pegasystems Inc. (NASDAQ:PEGA) has been assigned an average recommendation of “Buy” from the six analysts that are presently covering the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.33.
A number of equities analysts recently weighed in on PEGA shares. Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Wednesday, November 9th. JMP Securities restated a “buy” rating on shares of Pegasystems in a research report on Thursday, November 3rd. TheStreet lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Sidoti lowered shares of Pegasystems from a “buy” rating to a “neutral” rating in a research report on Monday, November 14th. Finally, Wedbush restated an “outperform” rating and set a $32.00 price target (down from $34.00) on shares of Pegasystems in a research report on Thursday, August 4th.
In other Pegasystems news, Director Richard H. Jones sold 1,800 shares of Pegasystems stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $27.44, for a total transaction of $49,392.00. Following the transaction, the director now directly owns 619,993 shares of the company’s stock, valued at $17,012,607.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leon Trefler sold 4,313 shares of Pegasystems stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $33.13, for a total transaction of $142,889.69. Following the transaction, the senior vice president now directly owns 14,587 shares in the company, valued at $483,267.31. The disclosure for this sale can be found here. Company insiders own 53.44% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Cadian Capital Management LP increased its position in shares of Pegasystems by 144.1% in the third quarter. Cadian Capital Management LP now owns 2,960,425 shares of the company’s stock worth $87,303,000 after buying an additional 1,747,565 shares during the period. Vanguard Group Inc. increased its position in shares of Pegasystems by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,536,517 shares of the company’s stock worth $68,359,000 after buying an additional 8,353 shares during the period. Fisher Asset Management LLC increased its position in shares of Pegasystems by 1.6% in the third quarter. Fisher Asset Management LLC now owns 1,638,711 shares of the company’s stock worth $48,326,000 after buying an additional 26,326 shares during the period. FMR LLC increased its position in shares of Pegasystems by 18.1% in the second quarter. FMR LLC now owns 1,518,245 shares of the company’s stock worth $40,917,000 after buying an additional 232,745 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Pegasystems by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,386,596 shares of the company’s stock worth $37,368,000 after buying an additional 96,691 shares during the period. 41.94% of the stock is currently owned by institutional investors.
Pegasystems (NASDAQ:PEGA) opened at 35.75 on Monday. Pegasystems has a 1-year low of $20.38 and a 1-year high of $35.85. The stock’s 50 day moving average is $31.16 and its 200-day moving average is $28.01. The company has a market capitalization of $2.73 billion, a P/E ratio of 77.72 and a beta of 1.56.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $182.80 million for the quarter, compared to analyst estimates of $185.88 million. Pegasystems had a net margin of 4.77% and a return on equity of 15.13%. Pegasystems’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. On average, analysts expect that Pegasystems will post $0.94 earnings per share for the current fiscal year.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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