Pegasystems (NASDAQ:PEGA) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Pegasystems' rating has been upgraded from "buy" to "strong-buy" by Wall Street Zen, indicating increased confidence in the company's performance.
• The company reported earnings of $0.30 per share for the last quarter, surpassing estimates and reflecting a 17.3% year-over-year revenue growth.
• Multiple analysts have raised their price targets for Pegasystems, with the average target now sitting at $69.61, highlighting a positive outlook from the market.

Pegasystems (NASDAQ:PEGA - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

A number of other equities analysts have also commented on PEGA. Wedbush raised their price objective on shares of Pegasystems from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday. Weiss Ratings restated a "hold (c+)" rating on shares of Pegasystems in a research report on Wednesday, October 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $80.00 price objective (up from $70.00) on shares of Pegasystems in a research report on Wednesday. Barclays raised their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Citigroup lifted their target price on shares of Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.61.

Pegasystems Stock Performance

NASDAQ PEGA opened at $66.27 on Friday. Pegasystems has a 52-week low of $29.84 and a 52-week high of $67.19. The company has a 50-day simple moving average of $56.49 and a 200 day simple moving average of $51.54. The company has a market capitalization of $11.25 billion, a PE ratio of 44.48 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. The firm had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The company's revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. As a group, analysts forecast that Pegasystems will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 11,147 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $58.19, for a total transaction of $648,643.93. Following the transaction, the chief financial officer directly owned 119,868 shares of the company's stock, valued at approximately $6,975,118.92. The trade was a 8.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry Weber sold 2,636 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total transaction of $150,199.28. Following the transaction, the director directly owned 10,632 shares in the company, valued at approximately $605,811.36. The trade was a 19.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,728 shares of company stock worth $9,625,920. 49.70% of the stock is owned by corporate insiders.

Institutional Trading of Pegasystems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank boosted its stake in Pegasystems by 5.3% in the 1st quarter. Amalgamated Bank now owns 3,060 shares of the technology company's stock worth $213,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC boosted its stake in Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after purchasing an additional 201 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Pegasystems by 20.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,331 shares of the technology company's stock worth $77,000 after purchasing an additional 226 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock worth $38,000 after purchasing an additional 320 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Pegasystems by 2.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,756 shares of the technology company's stock worth $956,000 after purchasing an additional 370 shares in the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.

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