Pegasystems' (PEGA) Buy Rating Reiterated at Rosenblatt Securities

Key Points

• Rosenblatt Securities reiterated its buy rating on Pegasystems and kept a $58 price target, implying about 85% upside from the stock’s current level.
• Broader analyst sentiment remains constructive: Pegasystems carries a Moderate Buy consensus, with eight Buy ratings and three Hold ratings, and an average target price of $63.30.
• The company recently posted weaker quarterly results, with EPS of $0.46 versus $0.68 expected and revenue of $429.97 million below estimates, though the stock was still up 2% in Thursday trading.

Pegasystems (NASDAQ:PEGA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They currently have a $58.00 target price on the technology company's stock. Rosenblatt Securities' price target indicates a potential upside of 85.42% from the company's current price.

Several other analysts also recently weighed in on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of Pegasystems in a report on Tuesday, June 9th. Zacks Research downgraded Pegasystems from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Weiss Ratings downgraded Pegasystems from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 4th. Citigroup reiterated a "market outperform" rating on shares of Pegasystems in a research note on Wednesday, June 10th. Finally, Citizens Jmp reissued a "market outperform" rating and set a $58.00 target price on shares of Pegasystems in a research note on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.30.

Pegasystems Trading Up 2.0%

Shares of Pegasystems stock opened at $31.28 on Thursday. The stock's fifty day moving average price is $32.82 and its 200-day moving average price is $41.07. Pegasystems has a 12 month low of $28.66 and a 12 month high of $68.10. The firm has a market cap of $5.23 billion, a P/E ratio of 16.82 and a beta of 0.87.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.22). The company had revenue of $429.97 million for the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. Analysts forecast that Pegasystems will post 1.93 earnings per share for the current year.

Insider Activity at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the completion of the transaction, the insider directly owned 107,070 shares of the company's stock, valued at approximately $3,570,784.50. The trade was a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $34.75, for a total value of $26,062.50. Following the completion of the transaction, the chief accounting officer owned 2,894 shares in the company, valued at $100,566.50. This represents a 20.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,795 shares of company stock worth $229,613. 48.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pegasystems

Several institutional investors and hedge funds have recently bought and sold shares of PEGA. International Assets Investment Management LLC acquired a new stake in Pegasystems during the 4th quarter valued at approximately $28,000. EFG International AG bought a new stake in shares of Pegasystems during the 4th quarter worth $32,000. Fifth Third Bancorp lifted its position in shares of Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company's stock valued at $37,000 after buying an additional 303 shares during the last quarter. Signature Equity Partners LLC grew its stake in Pegasystems by 302.2% in the 1st quarter. Signature Equity Partners LLC now owns 929 shares of the technology company's stock valued at $40,000 after buying an additional 698 shares in the last quarter. Finally, Bayforest Capital Ltd raised its stake in shares of Pegasystems by 316.6% during the 4th quarter. Bayforest Capital Ltd now owns 704 shares of the technology company's stock valued at $42,000 after purchasing an additional 535 shares during the period. Institutional investors own 46.89% of the company's stock.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems' offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.

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