Pegasystems (PEGA) Stock Rating Reaffirmed by Wedbush

Wedbush reissued their outperform rating on shares of Pegasystems (NASDAQ:PEGA) in a report issued on Wednesday, May 8th, The Fly reports. They currently have a $90.00 price target on the technology company’s stock, up from their prior price target of $84.00. The analysts noted that the move was a valuation call.

A number of other analysts have also recently commented on PEGA. BidaskClub upgraded Pegasystems from a sell rating to a hold rating in a research report on Wednesday, January 9th. Zacks Investment Research upgraded Pegasystems from a strong sell rating to a hold rating and set a $67.00 price objective 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. Finally, UBS Group boosted their price target on Pegasystems to $78.00 and gave the stock an overweight rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Pegasystems has a consensus rating of Buy and an average target price of $79.20.

Shares of NASDAQ:PEGA opened at $72.14 on Wednesday. Pegasystems has a 12-month low of $43.21 and a 12-month high of $76.49. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.08.

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

In other Pegasystems news, Director Richard H. Jones sold 10,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $64.42, for a total value of $644,200.00. Following the completion of the sale, the director now directly owns 297,537 shares in the company, valued at approximately $19,167,333.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 1,863 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $64.93, for a total value of $120,964.59. Following the completion of the sale, the chief financial officer now owns 12,009 shares of the company’s stock, valued at $779,744.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,140 shares of company stock valued at $3,506,740. 52.85% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Pegasystems by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 162,607 shares of the technology company’s stock valued at $10,179,000 after buying an additional 3,557 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Pegasystems by 10.8% during the third quarter. TIAA CREF Investment Management LLC now owns 177,381 shares of the technology company’s stock valued at $11,104,000 after buying an additional 17,356 shares during the period. Vanguard Group Inc. increased its stake in shares of Pegasystems by 2.7% during the third 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 during the period. Strs Ohio purchased a new position in shares of Pegasystems during the fourth quarter valued at $289,000. Finally, We Are One Seven LLC purchased a new position in shares of Pegasystems during the fourth quarter valued at $140,000. 46.29% of the stock is currently owned by institutional investors and hedge funds.

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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