Pegasystems (NASDAQ:PEGA) Upgraded at DA Davidson

Pegasystems (NASDAQ:PEGA - Get Free Report) was upgraded by equities researchers at DA Davidson to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on PEGA. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. KeyCorp lowered their price target on Pegasystems from $59.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Barclays reissued an "equal weight" rating and set a $50.00 target price on shares of Pegasystems in a report on Monday. Royal Bank Of Canada reissued an "outperform" rating and set a $60.00 target price on shares of Pegasystems in a report on Tuesday, June 3rd. Finally, Rosenblatt Securities boosted their target price on Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.82.

Pegasystems Stock Down 0.8%

Shares of PEGA stock opened at $50.92 on Tuesday. The stock has a 50-day moving average price of $50.64 and a 200 day moving average price of $45.37. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 49.44 and a beta of 1.13. Pegasystems has a 12 month low of $29.84 and a 12 month high of $56.84.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Pegasystems had a return on equity of 44.72% and a net margin of 11.98%. The firm had revenue of $384.51 million for the quarter, compared to analysts' expectations of $345.07 million. During the same quarter last year, the business earned $0.26 earnings per share. The company's revenue was up 9.5% compared to the same quarter last year. Sell-side analysts predict that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $49.63, for a total transaction of $49,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Efstathios A. Kouninis sold 1,196 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $51.50, for a total value of $61,594.00. Following the sale, the chief accounting officer directly owned 332 shares of the company's stock, valued at $17,098. This represents a 78.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,530 shares of company stock valued at $15,512,036. Corporate insiders own 50.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEGA. CX Institutional bought a new stake in Pegasystems during the first quarter worth $36,000. SBI Securities Co. Ltd. lifted its stake in Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock worth $38,000 after purchasing an additional 320 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after acquiring an additional 201 shares during the last quarter. UMB Bank n.a. increased its holdings in Pegasystems by 159.8% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock valued at $40,000 after purchasing an additional 449 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Pegasystems during the 1st quarter valued at about $57,000. Institutional investors own 46.89% of the company's stock.

About Pegasystems

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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