Pegasystems (PEGA) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a buy rating in a research report sent to investors on Saturday, BidAskClub reports.

Other analysts also recently issued research reports about the company. Benchmark reiterated a buy rating and set a $80.00 price target (up previously from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. Zacks Investment Research upgraded Pegasystems from a strong sell rating to a hold rating and set a $67.00 price target for the company in a research report on Tuesday, February 19th. TheStreet upgraded Pegasystems from a c rating to a b- rating in a research report on Friday, March 22nd. Wedbush reiterated an outperform rating and set a $90.00 price target (up previously from $84.00) on shares of Pegasystems in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, UBS Group lifted their price target on Pegasystems to $78.00 and gave the company an overweight rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $79.20.

Shares of NASDAQ PEGA opened at $72.64 on Friday. Pegasystems has a 52 week low of $43.21 and a 52 week high of $76.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.86 and a current ratio of 1.86.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.24). Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The company had revenue of $212.50 million during the quarter, compared to the consensus estimate of $237.63 million. During the same quarter in the prior year, the business earned $0.24 EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Research analysts predict that Pegasystems will post -0.7 EPS for the current year.

In other news, SVP Douglas I. Kra sold 3,498 shares of Pegasystems stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $72.02, for a total transaction of $251,925.96. Following the completion of the sale, the senior vice president now owns 39,280 shares in the company, valued at approximately $2,828,945.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Jones sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.89, for a total value of $1,622,250.00. Following the transaction, the director now directly owns 297,537 shares in the company, valued at $19,307,175.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,401 shares of company stock valued at $3,708,199. Corporate insiders own 52.85% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Pegasystems by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,401,811 shares of the technology company’s stock valued at $212,953,000 after buying an additional 90,839 shares in the last quarter. Luxor Capital Group LP raised its holdings in shares of Pegasystems by 48.0% during the 1st quarter. Luxor Capital Group LP now owns 2,863,532 shares of the technology company’s stock valued at $186,130,000 after buying an additional 929,282 shares in the last quarter. Cadian Capital Management LP raised its holdings in shares of Pegasystems by 37.2% during the 1st quarter. Cadian Capital Management LP now owns 2,171,209 shares of the technology company’s stock valued at $141,129,000 after buying an additional 588,389 shares in the last quarter. SQN Investors LP raised its holdings in shares of Pegasystems by 27.8% during the 4th quarter. SQN Investors LP now owns 2,117,903 shares of the technology company’s stock valued at $101,299,000 after buying an additional 460,938 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Pegasystems by 4.5% during the 1st quarter. BlackRock Inc. now owns 1,810,179 shares of the technology company’s stock valued at $117,664,000 after buying an additional 77,497 shares in the last quarter. 47.32% of the stock is currently owned by institutional investors.

About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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