Wall Street Zen Upgrades Pegasystems (NASDAQ:PEGA) to Strong-Buy

Pegasystems (NASDAQ:PEGA) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

PEGA has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. DA Davidson raised Pegasystems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Barclays upped their price objective on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a research note on Monday, December 29th. Finally, Rosenblatt Securities upped their price target on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.05.

Pegasystems Trading Down 2.1%

Shares of PEGA opened at $43.69 on Friday. Pegasystems has a 12 month low of $29.84 and a 12 month high of $68.10. The firm has a fifty day simple moving average of $56.56 and a 200 day simple moving average of $56.71. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 29.32 and a beta of 1.07.

Insider Buying and Selling at Pegasystems

In other news, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total transaction of $2,205,900.00. Following the transaction, the chairman owned 44,394,454 shares in the company, valued at approximately $2,176,216,135.08. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth Stillwell sold 14,405 shares of Pegasystems stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $57.87, for a total value of $833,617.35. Following the sale, the chief financial officer directly owned 131,621 shares of the company’s stock, valued at approximately $7,616,907.27. The trade was a 9.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 153,405 shares of company stock valued at $8,597,477 in the last three months. 50.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PEGA. Hazlett Burt & Watson Inc. acquired a new position in shares of Pegasystems in the third quarter valued at about $28,000. Spire Wealth Management boosted its holdings in Pegasystems by 274.2% in the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after purchasing an additional 414 shares during the period. Hantz Financial Services Inc. grew its position in shares of Pegasystems by 321.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after purchasing an additional 431 shares in the last quarter. Mather Group LLC. bought a new position in shares of Pegasystems during the third quarter worth approximately $33,000. Finally, MAI Capital Management increased its holdings in shares of Pegasystems by 124.5% during the second quarter. MAI Capital Management now owns 696 shares of the technology company’s stock worth $38,000 after purchasing an additional 386 shares during the period. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.