Pegasystems Inc. (PEGA) Rating Reiterated by JMP Securities
Pegasystems Inc. (NASDAQ:PEGA)‘s stock had its “buy” rating reiterated by research analysts at JMP Securities in a research note issued on Monday.
PEGA has been the topic of several other research reports. TheStreet cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Zacks Investment Research upgraded shares of Pegasystems from a “sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of Pegasystems in a research note on Tuesday, September 20th. Finally, Sidoti cut shares of Pegasystems from a “buy” rating to a “neutral” rating in a research note on Monday, November 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $32.75.
Pegasystems (NASDAQ:PEGA) opened at 35.80 on Monday. The company has a market cap of $2.73 billion, a PE ratio of 77.83 and a beta of 1.56. The company has a 50-day moving average price of $32.35 and a 200-day moving average price of $28.48. Pegasystems has a 1-year low of $20.38 and a 1-year high of $36.85.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The business had revenue of $182.80 million for the quarter, compared to analysts’ expectations of $185.88 million. Pegasystems had a net margin of 4.77% and a return on equity of 15.13%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. On average, analysts expect that Pegasystems will post $0.94 EPS for the current fiscal year.
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In other Pegasystems news, Director William W. Wyman sold 16,700 shares of Pegasystems stock in a transaction on Friday, September 16th. The shares were sold at an average price of $27.91, for a total value of $466,097.00. Following the sale, the director now directly owns 16,741 shares in the company, valued at approximately $467,241.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Leon Trefler sold 4,313 shares of Pegasystems stock in a transaction on Monday, November 7th. The shares were sold at an average price of $33.13, for a total transaction of $142,889.69. Following the completion of the sale, the senior vice president now owns 14,587 shares in the company, valued at $483,267.31. The disclosure for this sale can be found here. Corporate insiders own 53.44% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Pegasystems by 3.1% in the third quarter. BlackRock Inc. now owns 3,615 shares of the company’s stock worth $107,000 after buying an additional 110 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Pegasystems by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 5,330 shares of the company’s stock worth $144,000 after buying an additional 654 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Pegasystems during the third quarter worth about $162,000. Suntrust Banks Inc. bought a new stake in shares of Pegasystems during the third quarter worth about $222,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Pegasystems during the second quarter worth about $235,000. Institutional investors own 44.10% of the company’s stock.
Pegasystems Company Profile
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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