Pegasystems (NASDAQ:PEGA) Given “Buy” Rating at DA Davidson

Pegasystems (NASDAQ:PEGA)‘s stock had its “buy” rating reissued by stock analysts at DA Davidson in a research report issued on Wednesday,Benzinga reports. They currently have a $55.00 price objective on the technology company’s stock. DA Davidson’s price objective points to a potential upside of 64.01% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Zacks Research cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Wall Street Zen cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings cut shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price target on shares of Pegasystems in a research note on Thursday, April 23rd. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $58.00 price target on shares of Pegasystems in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.30.

Pegasystems Stock Performance

Pegasystems stock traded down $0.63 during trading hours on Wednesday, reaching $33.54. 231,393 shares of the stock were exchanged, compared to its average volume of 2,192,112. The stock has a market cap of $5.60 billion, a P/E ratio of 18.07 and a beta of 0.86. Pegasystems has a 52-week low of $32.00 and a 52-week high of $68.10. The firm’s 50 day moving average is $37.46 and its 200 day moving average is $46.01.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The firm had revenue of $429.97 million for the quarter, compared to analysts’ expectations of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. Equities research analysts expect that Pegasystems will post 1.95 EPS for the current fiscal year.

Insider Activity

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.99, for a total transaction of $27,742.50. Following the sale, the chief accounting officer directly owned 2,144 shares of the company’s stock, valued at $79,306.56. This trade represents a 25.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the sale, the insider directly owned 107,070 shares in the company, valued at $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,639 shares of company stock worth $577,764 over the last ninety days. 48.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Pegasystems in the fourth quarter worth approximately $28,000. EFG International AG acquired a new stake in shares of Pegasystems in the fourth quarter worth approximately $32,000. Hantz Financial Services Inc. boosted its position in shares of Pegasystems by 321.6% in the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after acquiring an additional 431 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after acquiring an additional 303 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its position in shares of Pegasystems by 316.6% in the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock worth $42,000 after acquiring an additional 535 shares during the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.