Pegasystems (NASDAQ:PEGA) Rating Lowered to Hold at StockNews.com

Pegasystems (NASDAQ:PEGA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other equities research analysts also recently commented on the company. DA Davidson boosted their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Wednesday, July 31st. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $84.00 in a research note on Thursday, August 1st. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Finally, Barclays increased their price target on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $84.31 on Monday. Pegasystems has a 1 year low of $44.00 and a 1 year high of $84.42. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 61.54 and a beta of 1.06. The company has a 50-day moving average of $72.20 and a 200 day moving average of $65.36.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. During the same quarter last year, the firm earned $0.14 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Pegasystems will post 1.61 EPS for the current year.

Insider Activity

In related news, insider Leon Trefler sold 8,288 shares of Pegasystems stock in a transaction on Friday, November 1st. The stock was sold at an average price of $81.23, for a total value of $673,234.24. Following the completion of the sale, the insider now owns 37,636 shares of the company’s stock, valued at $3,057,172.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Leon Trefler sold 8,288 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $81.23, for a total value of $673,234.24. Following the transaction, the insider now owns 37,636 shares of the company’s stock, valued at approximately $3,057,172.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $71.00, for a total transaction of $53,250.00. Following the sale, the chief accounting officer now directly owns 2 shares of the company’s stock, valued at approximately $142. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,565 shares of company stock valued at $2,998,565 in the last ninety days. 50.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new stake in Pegasystems in the first quarter worth about $758,000. Duality Advisers LP increased its holdings in Pegasystems by 2.7% in the 1st quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after acquiring an additional 363 shares in the last quarter. ClariVest Asset Management LLC raised its stake in Pegasystems by 113.2% during the 1st quarter. ClariVest Asset Management LLC now owns 39,569 shares of the technology company’s stock worth $2,558,000 after acquiring an additional 21,008 shares during the period. Swiss National Bank lifted its holdings in Pegasystems by 0.5% during the first quarter. Swiss National Bank now owns 82,500 shares of the technology company’s stock valued at $5,333,000 after purchasing an additional 400 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Pegasystems in the first quarter worth approximately $2,038,000. 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.