Pegasystems (NASDAQ:PEGA) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of Pegasystems (NASDAQ:PEGA) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $90.00 price target on the technology company’s stock.

A number of other equities analysts have also issued reports on the company. Royal Bank of Canada reissued an outperform rating and issued a $77.00 price objective on shares of Pegasystems in a report on Tuesday, June 11th. Citigroup raised their price target on Pegasystems from $86.00 to $87.00 and gave the company a buy rating in a report on Friday, March 22nd. StockNews.com upgraded Pegasystems from a buy rating to a strong-buy rating in a research report on Tuesday, February 13th. TheStreet upgraded shares of Pegasystems from a d+ rating to a c rating in a research report on Thursday, February 15th. Finally, DA Davidson restated a neutral rating and set a $60.00 price objective on shares of Pegasystems in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $74.13.

Pegasystems Trading Up 0.4 %

Shares of NASDAQ PEGA opened at $57.50 on Wednesday. Pegasystems has a 12-month low of $37.66 and a 12-month high of $69.26. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 70.12 and a beta of 1.05. The stock’s 50 day simple moving average is $59.96 and its 200 day simple moving average is $56.83.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. As a group, equities analysts forecast that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Insider Activity at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $63.70, for a total transaction of $127,400.00. Following the transaction, the chief financial officer now owns 24,884 shares in the company, valued at approximately $1,585,110.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $63.70, for a total transaction of $127,400.00. Following the transaction, the chief financial officer now owns 24,884 shares in the company, valued at $1,585,110.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction on Monday, April 1st. The stock was sold at an average price of $64.20, for a total transaction of $48,278.40. Following the completion of the transaction, the insider now owns 39,940 shares in the company, valued at approximately $2,564,148. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,504 shares of company stock valued at $950,634. 50.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PEGA. Principal Financial Group Inc. increased its holdings in shares of Pegasystems by 11.7% during the 3rd quarter. Principal Financial Group Inc. now owns 5,035 shares of the technology company’s stock worth $219,000 after purchasing an additional 527 shares during the period. Swiss National Bank lifted its position in shares of Pegasystems by 1.7% in the 3rd quarter. Swiss National Bank now owns 91,200 shares of the technology company’s stock worth $3,959,000 after acquiring an additional 1,500 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Pegasystems by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 318,002 shares of the technology company’s stock worth $13,804,000 after purchasing an additional 10,653 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Pegasystems during the third quarter valued at approximately $114,000. Finally, CenterBook Partners LP raised its stake in shares of Pegasystems by 213.8% in the third quarter. CenterBook Partners LP now owns 27,497 shares of the technology company’s stock valued at $1,194,000 after purchasing an additional 18,734 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Pegasystems Company Profile

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.