Pegasystems (NASDAQ:PEGA) Rating Increased to Strong-Buy at Wall Street Zen

Pegasystems (NASDAQ:PEGA) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

PEGA has been the topic of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $85.00 in a report on Wednesday, October 22nd. Rosenblatt Securities increased their target price on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Barclays boosted their price target on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.05.

Pegasystems Stock Performance

PEGA opened at $43.69 on Friday. The company has a fifty day moving average price of $56.56 and a two-hundred day moving average price of $56.62. The firm has a market capitalization of $7.42 billion, a PE ratio of 29.32 and a beta of 1.08. Pegasystems has a 52 week low of $29.84 and a 52 week high of $68.10.

Insiders Place Their Bets

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $60.19, for a total value of $240,760.00. Following the sale, the insider owned 112,845 shares of the company’s stock, valued at $6,792,140.55. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kenneth Stillwell sold 14,405 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $57.87, for a total value of $833,617.35. Following the completion of the sale, the chief financial officer owned 131,621 shares in the company, valued at approximately $7,616,907.27. This trade represents a 9.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 164,847 shares of company stock worth $9,308,941. Corporate insiders own 49.70% of the company’s stock.

Institutional Trading of Pegasystems

A number of hedge funds and other institutional investors have recently made changes to their positions in PEGA. NewEdge Advisors LLC boosted its holdings in Pegasystems by 1.4% during the third quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock worth $785,000 after purchasing an additional 189 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Pegasystems by 27.3% during the 3rd quarter. UMB Bank n.a. now owns 929 shares of the technology company’s stock worth $53,000 after buying an additional 199 shares during the last quarter. Paralel Advisors LLC boosted its stake in shares of Pegasystems by 0.3% during the 3rd quarter. Paralel Advisors LLC now owns 76,960 shares of the technology company’s stock worth $4,425,000 after buying an additional 224 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Pegasystems by 20.5% in the third quarter. Global Retirement Partners LLC now owns 1,331 shares of the technology company’s stock valued at $77,000 after acquiring an additional 226 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Pegasystems by 5.0% during the third quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after acquiring an additional 228 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.