Pegasystems (NASDAQ:PEGA) Rating Lowered to "Neutral" at DA Davidson

Pegasystems (NASDAQ:PEGA - Get Free Report) was downgraded by DA Davidson from a "buy" rating to a "neutral" rating in a research report issued on Monday, Marketbeat Ratings reports. They presently have a $32.00 price target on the technology company's stock. DA Davidson's target price points to a potential downside of 0.68% from the stock's current price.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $47.00 target price (down from $54.00) on shares of Pegasystems in a research note on Thursday, September 17th. Zacks Research upgraded Pegasystems from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 22nd. William Blair lowered Pegasystems from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 22nd. Citizens Jmp downgraded Pegasystems from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 22nd. Finally, KeyCorp downgraded shares of Pegasystems from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $47.40.

Pegasystems Stock Down 4.5%

Pegasystems stock opened at $32.22 on Monday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 18.20 and a beta of 0.89. The business has a 50-day simple moving average of $33.53 and a 200 day simple moving average of $35.36. Pegasystems has a 52 week low of $25.10 and a 52 week high of $68.10.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The business had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, research analysts anticipate that Pegasystems will post 1.69 earnings per share for the current year.

Insider Activity

In other Pegasystems news, Director Dianne Ledingham sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $38.00, for a total value of $38,000.00. Following the completion of the sale, the director owned 39,280 shares in the company, valued at approximately $1,492,640. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerim Akgonul sold 7,000 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $36.03, for a total value of $252,210.00. Following the transaction, the insider directly owned 104,804 shares in the company, valued at $3,776,088.12. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 52,672 shares of company stock worth $1,887,507. 48.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Pegasystems

Several large investors have recently added to or reduced their stakes in PEGA. Envestnet Portfolio Solutions Inc. raised its holdings in Pegasystems by 59.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 35,691 shares of the technology company's stock worth $1,070,000 after purchasing an additional 13,264 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Pegasystems by 20.2% during the second quarter. Sequoia Financial Advisors LLC now owns 9,406 shares of the technology company's stock valued at $282,000 after buying an additional 1,583 shares during the period. WINTON GROUP Ltd raised its stake in Pegasystems by 59.8% in the second quarter. WINTON GROUP Ltd now owns 40,987 shares of the technology company's stock worth $1,228,000 after buying an additional 15,343 shares in the last quarter. NewEdge Advisors LLC boosted its position in Pegasystems by 4.6% during the 2nd quarter. NewEdge Advisors LLC now owns 20,032 shares of the technology company's stock valued at $600,000 after acquiring an additional 887 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new position in shares of Pegasystems during the 2nd quarter worth approximately $5,007,000. Institutional investors own 46.89% of the company's stock.

About Pegasystems

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company's product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.