Pegasystems (NASDAQ:PEGA) Earns “Buy” Rating from Rosenblatt Securities

Pegasystems (NASDAQ:PEGA)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They currently have a $75.00 target price on the technology company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 28.95% from the stock’s previous close.

Several other analysts also recently weighed in on PEGA. DA Davidson restated a “neutral” rating and set a $60.00 price objective on shares of Pegasystems in a research report on Monday, March 4th. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a report on Wednesday, April 10th. Royal Bank of Canada upped their target price on Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Finally, Barclays lowered their target price on shares of Pegasystems from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Pegasystems Trading Up 1.0 %

NASDAQ PEGA opened at $58.16 on Tuesday. Pegasystems has a 52 week low of $37.66 and a 52 week high of $69.26. The firm has a 50 day moving average of $62.71 and a two-hundred day moving average of $52.79. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $4.88 billion, a PE ratio of 81.92 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.78 by $0.64. The firm had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a return on equity of 39.30% and a net margin of 4.73%. As a group, research analysts expect that Pegasystems will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 395 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total value of $25,576.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the completion of the transaction, the chief financial officer now owns 24,535 shares in the company, valued at $1,549,875.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 395 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total value of $25,576.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,792 shares of company stock valued at $2,781,669. 50.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pegasystems

A number of large investors have recently made changes to their positions in PEGA. Quadrant Capital Group LLC lifted its position in shares of Pegasystems by 80.1% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after acquiring an additional 226 shares during the period. Arizona State Retirement System boosted its position in Pegasystems by 2.0% during the third quarter. Arizona State Retirement System now owns 11,810 shares of the technology company’s stock worth $513,000 after purchasing an additional 228 shares in the last quarter. Quent Capital LLC grew its holdings in Pegasystems by 1.8% in the fourth quarter. Quent Capital LLC now owns 12,846 shares of the technology company’s stock valued at $628,000 after purchasing an additional 228 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Pegasystems by 219.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after buying an additional 364 shares in the last quarter. Finally, CWM LLC increased its position in shares of Pegasystems by 80.1% in the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after buying an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

About Pegasystems

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.