Pegasystems (NASDAQ:PEGA) Stock Rating Lowered by Wall Street Zen

Pegasystems (NASDAQ:PEGA) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Several other equities analysts have also recently issued reports on PEGA. Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Tuesday, June 3rd. Loop Capital lifted their price objective on Pegasystems from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities lifted their price objective on Pegasystems from $55.00 to $62.50 and gave the company a “market outperform” rating in a research note on Tuesday, June 3rd. Wedbush lifted their price objective on Pegasystems from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Barclays lifted their price objective on Pegasystems from $50.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.80.

Pegasystems Price Performance

NASDAQ PEGA opened at $58.83 on Friday. The company has a market cap of $10.06 billion, a P/E ratio of 50.50 and a beta of 1.13. The stock has a 50-day moving average of $51.29 and a two-hundred day moving average of $45.65. Pegasystems has a 1-year low of $29.84 and a 1-year high of $59.85.

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

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 1,196 shares of Pegasystems stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $51.50, for a total transaction of $61,594.00. Following the transaction, the chief accounting officer owned 332 shares of the company’s stock, valued at $17,098. The trade was a 78.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Alan Trefler sold 63,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $48.25, for a total value of $3,039,750.00. Following the transaction, the chairman directly owned 34,243,120 shares in the company, valued at approximately $1,652,230,540. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,588 shares of company stock valued at $13,769,343 over the last 90 days. 50.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CX Institutional acquired a new position in Pegasystems during the first quarter worth approximately $36,000. SBI Securities Co. Ltd. increased its position in Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after buying an additional 320 shares during the period. GAMMA Investing LLC increased its position in Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after buying an additional 201 shares during the period. UMB Bank n.a. increased its holdings in shares of Pegasystems by 159.8% in the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after purchasing an additional 449 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Pegasystems in the first quarter valued at approximately $57,000. 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.