Weiss Ratings Reiterates "Hold (C+)" Rating for Pegasystems (NASDAQ:PEGA)

Key Points

• Weiss Ratings has reissued a "Hold (C+)" rating for Pegasystems (NASDAQ: PEGA) after assessing the company's performance.
• Several analysts have raised their price targets for Pegasystems, with estimates ranging from $60.00 to $70.00, indicating a consensus of "Moderate Buy".
• Pegasystems reported earnings of $0.28 per share for the last quarter, surpassing expectations, with a significant revenue increase of 9.5% year-over-year.

Pegasystems (NASDAQ:PEGA - Get Free Report)'s stock had its "hold (c+)" rating reissued by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. DA Davidson raised their price objective on shares of Pegasystems from $50.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Loop Capital raised their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wedbush raised their price objective on shares of Pegasystems from $68.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Rosenblatt Securities raised their price objective on shares of Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Citigroup raised their target price on shares of Pegasystems from $66.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.83.

Pegasystems Price Performance

Shares of PEGA opened at $56.20 on Wednesday. The firm has a 50 day simple moving average of $55.67 and a 200-day simple moving average of $49.64. Pegasystems has a 1-year low of $29.84 and a 1-year high of $61.00. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 48.24 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The business had revenue of $384.51 million during the quarter, compared to analysts' expectations of $345.07 million. During the same period last year, the company posted $0.26 EPS. The company's revenue was up 9.5% on a year-over-year basis. On average, equities analysts expect that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pegasystems news, insider Rifat Kerim Akgonul sold 9,879 shares of Pegasystems stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $57.82, for a total value of $571,203.78. Following the transaction, the insider owned 78,560 shares in the company, valued at $4,542,339.20. This trade represents a 11.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Efstathios A. Kouninis sold 2,544 shares of Pegasystems stock in a transaction on Monday, September 15th. The shares were sold at an average price of $59.00, for a total transaction of $150,096.00. The disclosure for this sale can be found here. Insiders have sold 132,607 shares of company stock worth $7,644,274 over the last 90 days. Company insiders own 49.70% of the company's stock.

Hedge Funds Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in shares of Pegasystems by 5.3% during the 1st quarter. Amalgamated Bank now owns 3,060 shares of the technology company's stock valued at $213,000 after acquiring an additional 153 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Pegasystems by 50.5% during 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 in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after acquiring an additional 320 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Pegasystems by 2.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,756 shares of the technology company's stock valued at $956,000 after acquiring an additional 370 shares in the last quarter. Finally, MAI Capital Management lifted its holdings in shares of Pegasystems by 124.5% during the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company's stock valued at $38,000 after acquiring an additional 386 shares in the last quarter. Institutional investors and hedge funds 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.

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