Pegasystems (NASDAQ:PEGA) Receives Buy Rating from Citigroup

Citigroup reissued their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a research note published on Monday, Benzinga reports. They currently have a $70.00 price target on the technology company’s stock.

Several other research firms have also recently commented on PEGA. Rosenblatt Securities reaffirmed a buy rating and issued a $62.00 price target on shares of Pegasystems in a report on Tuesday, August 29th. Wedbush upgraded Pegasystems from a neutral rating to an outperform rating in a research report on Wednesday, July 5th. StockNews.com started coverage on Pegasystems in a research report on Thursday, August 17th. They issued a buy rating for the company. JPMorgan Chase & Co. increased their price objective on Pegasystems from $55.00 to $58.00 in a research report on Tuesday, June 13th. Finally, Royal Bank of Canada increased their price objective on Pegasystems from $55.00 to $65.00 in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $53.82.

Pegasystems Trading Down 1.7 %

PEGA opened at $42.54 on Monday. The stock has a fifty day moving average price of $49.71 and a 200-day moving average price of $47.85. Pegasystems has a 12 month low of $29.05 and a 12 month high of $59.23. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -27.62 and a beta of 1.03. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 3.43.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.07). The firm had revenue of $298.27 million for the quarter, compared to analysts’ expectations of $309.61 million. Pegasystems had a negative net margin of 9.80% and a negative return on equity of 59.82%. As a group, equities research analysts anticipate that Pegasystems will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pegasystems news, insider Leon Trefler sold 811 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $52.00, for a total value of $42,172.00. Following the completion of the transaction, the insider now directly owns 26,508 shares in the company, valued at approximately $1,378,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Rifat Kerim Akgonul sold 1,890 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $46.65, for a total transaction of $88,168.50. Following the completion of the sale, the insider now directly owns 52,921 shares in the company, valued at approximately $2,468,764.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leon Trefler sold 811 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $52.00, for a total value of $42,172.00. Following the sale, the insider now owns 26,508 shares of the company’s stock, valued at $1,378,416. The disclosure for this sale can be found here. Insiders sold 4,975 shares of company stock worth $245,240 in the last ninety days. Insiders own 50.20% of the company’s stock.

Institutional Trading of Pegasystems

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Pegasystems in the 1st quarter valued at about $45,000. Tower Research Capital LLC TRC raised its stake in Pegasystems by 502.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,754 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,463 shares during the period. Gyon Technologies Capital Management LP acquired a new stake in Pegasystems during the fourth quarter worth about $61,000. Castleview Partners LLC acquired a new stake in shares of Pegasystems in the first quarter valued at approximately $70,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Pegasystems in the second quarter valued at approximately $86,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications 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 Platform, an intelligent automation software for clients' processes and workflows; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.