Pegasystems (NASDAQ:PEGA) Receives Outperform Rating from Wedbush

Pegasystems (NASDAQ:PEGA)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They currently have a $90.00 price target on the technology company’s stock. Wedbush’s price target suggests a potential upside of 44.23% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Citigroup upped their target price on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. TheStreet upgraded shares of Pegasystems from a “d+” rating to a “c” rating in a research note on Thursday, February 15th. Rosenblatt Securities restated a “buy” rating and issued a $75.00 target price on shares of Pegasystems in a research note on Tuesday. Barclays upped their target price on shares of Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Three equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.33.

Pegasystems Trading Up 5.6 %

Pegasystems stock traded up $3.32 during midday trading on Friday, reaching $62.40. The stock had a trading volume of 157,343 shares, compared to its average volume of 484,739. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41. Pegasystems has a 52-week low of $37.66 and a 52-week high of $69.26. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 74.89 and a beta of 1.06. The company has a fifty day moving average of $62.90 and a 200 day moving average of $52.99.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.64. The company had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a net margin of 5.32% and a return on equity of 53.49%. On average, analysts anticipate that Pegasystems will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kenneth Stillwell sold 20,606 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the transaction, the chief financial officer now owns 24,535 shares of the company’s stock, valued at $1,549,875.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction on Friday, February 16th. The shares were 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 of the company’s stock, valued at $1,549,875.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 395 shares of Pegasystems stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total transaction of $25,576.25. The disclosure for this sale can be found here. Insiders sold a total of 43,792 shares of company stock valued at $2,781,669 over the last 90 days. Insiders own 50.20% of the company’s stock.

Institutional Trading of Pegasystems

Several institutional investors have recently modified their holdings of the stock. CWM LLC grew its stake in shares of Pegasystems by 80.1% in the 3rd quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after buying an additional 516 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of Pegasystems in the 3rd quarter valued at approximately $91,000. Oak Thistle LLC purchased a new stake in shares of Pegasystems in the 3rd quarter valued at approximately $469,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Pegasystems by 14.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,251 shares of the technology company’s stock valued at $402,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Pegasystems in the 3rd quarter valued at $2,133,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.