Pegasystems’ (PEGA) Buy Rating Reiterated at Rosenblatt Securities

Pegasystems (NASDAQ:PEGA)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $47.00 target price on the technology company’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 34.13% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Citizens Jmp downgraded shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Loop Capital downgraded shares of Pegasystems from a “buy” rating to a “hold” rating and dropped their target price for the stock from $55.00 to $25.00 in a research report on Thursday, July 23rd. Barclays restated an “overweight” rating and issued a $43.00 target price (up from $39.00) on shares of Pegasystems in a research note on Tuesday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pegasystems in a research report on Tuesday, September 1st. Finally, DA Davidson downgraded Pegasystems from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a research note on Monday, September 28th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Pegasystems has an average rating of “Hold” and a consensus target price of $45.64.

Pegasystems Stock Up 1.4%

Shares of Pegasystems stock traded up $0.50 on Thursday, hitting $35.04. 4,458,539 shares of the company’s stock traded hands, compared to its average volume of 2,368,741. The stock has a market cap of $5.76 billion, a P/E ratio of 19.80 and a beta of 0.89. The firm’s 50-day moving average is $34.88 and its 200 day moving average is $34.44. Pegasystems has a 52-week low of $25.10 and a 52-week high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $420.72 million for the quarter, compared to analyst estimates of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 EPS. Equities research analysts forecast that Pegasystems will post 1.69 EPS for the current year.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, Director Dianne Ledingham sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. Following the completion of the sale, the director owned 39,280 shares in the company, valued at $1,492,640. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Efstathios Kouninis sold 1,063 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total transaction of $41,191.25. Following the sale, the chief accounting officer directly owned 1,164 shares in the company, valued at $45,105. This trade represents a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 53,672 shares of company stock worth $1,921,657. Company insiders own 48.40% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

Several institutional investors and hedge funds have recently bought and sold shares of PEGA. Alpine Bank Wealth Management bought a new position in Pegasystems in the third quarter worth about $27,000. Signature Equity Partners LLC grew its holdings in shares of Pegasystems by 302.2% during the first quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock valued at $40,000 after purchasing an additional 698 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Pegasystems during the second quarter valued at approximately $41,000. Allworth Financial LP acquired a new stake in shares of Pegasystems during the 2nd quarter worth approximately $42,000. Finally, GAMMA Investing LLC raised its position in shares of Pegasystems by 21.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,597 shares of the technology company’s stock worth $53,000 after purchasing an additional 284 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

About Pegasystems

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.