Pegasystems (NASDAQ:PEGA) Stock Rating Upgraded by Zacks Research

Pegasystems (NASDAQ:PEGA) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Other analysts have also issued reports about the company. Loop Capital lowered Pegasystems from a “buy” rating to a “hold” rating and decreased their price target for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. Royal Bank Of Canada set a $35.00 target price on shares of Pegasystems and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Barclays restated an “overweight” rating and issued a $39.00 target price (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $47.00 price target (down from $54.00) on shares of Pegasystems in a research report on Thursday, September 17th. Finally, William Blair downgraded shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.40.

Pegasystems Trading Up 1.4%

Shares of PEGA stock opened at $35.18 on Tuesday. Pegasystems has a twelve month low of $25.10 and a twelve month high of $68.10. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 19.88 and a beta of 0.89. The firm has a 50-day moving average price of $33.47 and a 200 day moving average price of $35.54.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. During the same quarter last year, the firm posted $0.28 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that Pegasystems will post 1.69 earnings per share for the current year.

Insider Buying and Selling at Pegasystems

In other news, insider Kerim Akgonul sold 7,000 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $36.03, for a total value of $252,210.00. Following the completion of the sale, the insider owned 104,804 shares of the company’s stock, valued at $3,776,088.12. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dianne Ledingham sold 1,000 shares of Pegasystems stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. Following the transaction, the director owned 39,280 shares in the company, valued at $1,492,640. The trade was a 2.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 52,672 shares of company stock valued at $1,887,507. 48.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

Hedge funds have recently bought and sold shares of the business. Signature Equity Partners LLC raised its stake in Pegasystems by 302.2% during the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock valued at $40,000 after buying an additional 698 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Pegasystems during the fourth quarter valued at $58,000. Global Retirement Partners LLC acquired a new position in Pegasystems during the 2nd quarter valued at about $41,000. Allworth Financial LP bought a new position in Pegasystems in the 2nd quarter worth approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Pegasystems in the second quarter worth $62,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.