Pegasystems' (PEGA) "Buy" Rating Reaffirmed at Rosenblatt Securities

Pegasystems (NASDAQ:PEGA - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Rosenblatt Securities in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $75.00 price target on the technology company's stock. Rosenblatt Securities' price target would suggest a potential upside of 26.48% from the company's current price.

A number of other research firms also recently issued reports on PEGA. Barclays dropped their price objective on shares of Pegasystems from $68.00 to $66.00 and set an "equal weight" rating on the stock in a report on Monday, April 15th. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Pegasystems in a research note on Wednesday, April 10th. StockNews.com upgraded shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, February 13th. DA Davidson restated a "neutral" rating and set a $60.00 target price on shares of Pegasystems in a research note on Monday, March 4th. Finally, TheStreet upgraded shares of Pegasystems from a "d+" rating to a "c" rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded up $1.14 during trading on Tuesday, reaching $59.30. 321,748 shares of the company traded hands, compared to its average volume of 476,529. The firm has a 50 day simple moving average of $62.71 and a 200-day simple moving average of $52.79. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $4.98 billion, a PE ratio of 83.71 and a beta of 1.06. Pegasystems has a 52-week low of $37.66 and a 52-week high of $69.26.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.64. The firm had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. Equities research analysts anticipate that Pegasystems will post 1.49 earnings per share for the current year.

Insider Activity

In related 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 value of $1,301,681.02. Following the sale, the chief financial officer now owns 24,535 shares in the company, valued at $1,549,875.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value of $1,301,681.02. Following the sale, the chief financial officer now owns 24,535 shares in the company, valued at $1,549,875.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 395 shares of the business's stock in a transaction on 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 have sold a total of 43,792 shares of company stock worth $2,781,669 over the last quarter. Insiders own 50.20% of the company's stock.

Institutional Investors Weigh In On Pegasystems

Several large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its stake in Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company's stock worth $25,000 after buying an additional 226 shares during the period. Parkside Financial Bank & Trust boosted its stake in Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $26,000 after buying an additional 364 shares during the period. Headlands Technologies LLC purchased a new position in Pegasystems during the fourth quarter worth $26,000. Harvest Fund Management Co. Ltd purchased a new position in Pegasystems during the fourth quarter worth $44,000. Finally, CWM LLC boosted its stake in shares of Pegasystems by 80.1% during the third quarter. CWM LLC now owns 1,160 shares of the technology company's stock valued at $50,000 after purchasing an additional 516 shares during the period. Institutional investors own 46.89% of the company's stock.

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.