Pegasystems (NASDAQ:PEGA) Stock Rating Reaffirmed by Wedbush

Pegasystems (NASDAQ:PEGA - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $90.00 price target on the technology company's stock. Wedbush's target price points to a potential upside of 45.14% from the stock's current price.

A number of other brokerages have also issued reports on PEGA. Royal Bank of Canada lifted their target price on Pegasystems from $65.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th. Citigroup upped their target price on Pegasystems from $86.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, March 22nd. Barclays raised shares of Pegasystems from an "underweight" rating to an "equal weight" rating and set a $52.00 price target for the company in a research report on Friday, January 12th. The Goldman Sachs Group upped their price target on shares of Pegasystems from $50.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, February 16th. Finally, TheStreet raised shares of Pegasystems from a "d+" rating to a "c" rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Pegasystems Stock Down 1.9 %

Pegasystems stock traded down $1.22 during midday trading on Wednesday, hitting $62.01. 219,616 shares of the company were exchanged, compared to its average volume of 498,112. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.78 and a quick ratio of 1.78. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $69.26. The company's fifty day moving average price is $60.92 and its 200-day moving average price is $51.74. The company has a market cap of $5.20 billion, a PE ratio of 87.37 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.64. The business had revenue of $474.23 million for the quarter, compared to analysts' expectations of $428.76 million. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. On average, research analysts predict that Pegasystems will post 1.49 EPS for the current fiscal year.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 395 shares of Pegasystems stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total value of $25,576.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kenneth Stillwell sold 20,606 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the transaction, the chief financial officer now owns 24,535 shares of the company's stock, valued at $1,549,875.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 395 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total transaction of $25,576.25. The disclosure for this sale can be found here. Insiders sold a total of 43,792 shares of company stock valued at $2,781,669 in the last quarter. Insiders own 50.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its holdings in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company's stock valued at $25,000 after buying an additional 226 shares during the last quarter. Arizona State Retirement System raised its stake in Pegasystems by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 11,810 shares of the technology company's stock valued at $513,000 after acquiring an additional 228 shares in the last quarter. Quent Capital LLC boosted its position in Pegasystems by 1.8% during the 4th quarter. Quent Capital LLC now owns 12,846 shares of the technology company's stock worth $628,000 after acquiring an additional 228 shares during the period. Envestnet Asset Management Inc. boosted its position in Pegasystems by 4.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,490 shares of the technology company's stock worth $268,000 after acquiring an additional 247 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Pegasystems by 1.4% in the second quarter. Treasurer of the State of North Carolina now owns 18,319 shares of the technology company's stock worth $903,000 after purchasing an additional 250 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Company Profile

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.