Pegasystems (NASDAQ:PEGA) Upgraded to “Hold” at DA Davidson

Pegasystems (NASDAQ:PEGA) was upgraded by research analysts at DA Davidson to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts have also commented on PEGA. Wedbush restated an “outperform” rating and set a $125.00 target price on shares of Pegasystems in a research report on Tuesday, June 3rd. Rosenblatt Securities boosted their target price on shares of Pegasystems from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Barclays boosted their target price on shares of Pegasystems from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 price objective on shares of Pegasystems in a research report on Tuesday, June 3rd. Finally, JMP Securities boosted their price objective on shares of Pegasystems from $110.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.18.

Pegasystems Trading Down 0.4%

PEGA stock opened at $102.04 on Monday. The company has a market capitalization of $8.73 billion, a P/E ratio of 101.03 and a beta of 1.12. Pegasystems has a twelve month low of $55.90 and a twelve month high of $113.67. The business has a 50 day simple moving average of $86.88 and a 200-day simple moving average of $89.09.

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 598 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $103.00, for a total transaction of $61,594.00. Following the completion of the transaction, the chief accounting officer now owns 166 shares of the company’s stock, valued at $17,098. This represents a 78.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $97.48, for a total transaction of $194,960.00. Following the transaction, the chief financial officer now directly owns 23,688 shares of the company’s stock, valued at approximately $2,309,106.24. This represents a 7.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,185 shares of company stock worth $8,126,445. Corporate insiders own 49.70% of the company’s stock.

Institutional Trading of Pegasystems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. grew its position in Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after acquiring an additional 149 shares in the last quarter. CX Institutional acquired a new stake in Pegasystems in the first quarter valued at approximately $36,000. SBI Securities Co. Ltd. grew its position in Pegasystems by 139.7% in the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after acquiring an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds 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.