Pegasystems (NASDAQ:PEGA) Downgraded by StockNews.com

Pegasystems (NASDAQ:PEGA) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Other equities analysts have also recently issued research reports about the company. Barclays boosted their price target on Pegasystems from $44.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Pegasystems in a research report on Tuesday, August 29th. DA Davidson dropped their price target on Pegasystems from $52.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Citigroup dropped their price target on Pegasystems from $70.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada boosted their price target on Pegasystems from $55.00 to $65.00 in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $52.90.

Pegasystems Trading Up 1.8 %

PEGA opened at $44.76 on Friday. The firm has a market cap of $3.74 billion, a P/E ratio of -91.35 and a beta of 1.02. The business has a fifty day simple moving average of $43.90 and a 200-day simple moving average of $46.82. Pegasystems has a 52 week low of $31.06 and a 52 week high of $59.23. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.98.

Insider Transactions at Pegasystems

In other news, insider Leon Trefler sold 811 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.00, for a total value of $40,550.00. Following the completion of the transaction, the insider now owns 25,697 shares in the company, valued at approximately $1,284,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Rifat Kerim Akgonul sold 1,890 shares of Pegasystems stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $46.65, for a total value of $88,168.50. Following the completion of the sale, the insider now directly owns 52,921 shares in the company, valued at $2,468,764.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Leon Trefler sold 811 shares of Pegasystems stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $50.00, for a total transaction of $40,550.00. Following the completion of the sale, the insider now owns 25,697 shares of the company’s stock, valued at $1,284,850. The disclosure for this sale can be found here. Insiders sold 2,949 shares of company stock valued at $139,767 over the last quarter. Corporate insiders own 50.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in Pegasystems by 119.1% in the 1st quarter. Capital Research Global Investors now owns 2,142,547 shares of the technology company’s stock worth $172,796,000 after buying an additional 1,164,581 shares during the period. Cadian Capital Management LP increased its holdings in Pegasystems by 15.1% during the second quarter. Cadian Capital Management LP now owns 3,487,351 shares of the technology company’s stock valued at $171,926,000 after buying an additional 458,670 shares during the last quarter. Bares Capital Management Inc. increased its stake in shares of Pegasystems by 8.6% in the second quarter. Bares Capital Management Inc. now owns 5,807,593 shares of the technology company’s stock worth $286,314,000 after purchasing an additional 457,888 shares in the last quarter. Norges Bank purchased a new stake in shares of Pegasystems in the fourth quarter worth $14,212,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Pegasystems in the first quarter worth $14,673,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications 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 Platform, an intelligent automation software for clients' processes and workflows; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.