Pegasystems (NASDAQ:PEGA) Earns “Outperform” Rating from Wedbush

Pegasystems (NASDAQ:PEGA)‘s stock had its “outperform” rating restated by analysts at Wedbush in a report issued on Friday, Benzinga reports. They currently have a $90.00 price objective on the technology company’s stock. Wedbush’s price objective indicates a potential upside of 45.63% from the company’s previous close.

Other analysts have also recently issued research reports about the company. DA Davidson reiterated a “neutral” rating and set a $60.00 price objective on shares of Pegasystems in a research report on Monday, March 4th. Rosenblatt Securities restated a “buy” rating and issued a $75.00 price target on shares of Pegasystems in a research report on Tuesday, April 23rd. The Goldman Sachs Group upped their price target on Pegasystems from $50.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Royal Bank of Canada upped their price target on Pegasystems from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.33.

Pegasystems Stock Performance

Pegasystems stock opened at $61.80 on Friday. The stock has a market cap of $5.25 billion, a PE ratio of 75.37 and a beta of 1.06. Pegasystems has a one year low of $37.66 and a one year high of $69.26. The stock has a fifty day moving average of $62.83 and a 200 day moving average of $53.19.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. The company had revenue of $474.23 million during the quarter, compared to analysts’ expectations of $428.76 million. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. As a group, sell-side analysts predict that Pegasystems will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $63.70, for a total transaction of $127,400.00. Following the completion of the sale, the chief financial officer now owns 24,884 shares in the company, valued at $1,585,110.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Efstathios A. Kouninis sold 395 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total transaction of $25,576.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $63.70, for a total value of $127,400.00. Following the transaction, the chief financial officer now directly owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,792 shares of company stock worth $2,781,669. 50.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEGA. Quadrant Capital Group LLC boosted its stake in Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after buying an additional 226 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after buying an additional 364 shares during the last quarter. Headlands Technologies LLC bought a new position in Pegasystems during the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Pegasystems during the fourth quarter valued at approximately $44,000. Finally, CWM LLC boosted its stake in Pegasystems by 80.1% during the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after buying an additional 516 shares during the last quarter. 46.89% of the stock is owned by 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.