BidaskClub Upgrades Pegasystems (NASDAQ:PEGA) to Strong-Buy

Pegasystems (NASDAQ:PEGA) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Several other equities analysts have also commented on PEGA. Rosenblatt Securities upped their target price on Pegasystems from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Pegasystems from a “sell” rating to a “hold” rating and set a $109.00 target price for the company in a research note on Saturday, June 27th. Goldman Sachs Group upped their target price on Pegasystems from $105.00 to $119.00 in a research note on Monday, June 29th. Wedbush upped their price target on Pegasystems from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, KeyCorp upped their price target on Pegasystems from $112.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $117.44.

Shares of NASDAQ:PEGA traded up $1.91 on Friday, hitting $116.89. The company had a trading volume of 348,150 shares, compared to its average volume of 317,835. The company has a current ratio of 2.72, a quick ratio of 2.90 and a debt-to-equity ratio of 1.01. Pegasystems has a 52-week low of $38.01 and a 52-week high of $117.00. The business has a 50 day moving average of $99.83 and a 200 day moving average of $88.20. The company has a market cap of $9.40 billion, a PE ratio of -123.04 and a beta of 1.28.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.06). Pegasystems had a negative net margin of 7.66% and a negative return on equity of 16.83%. The company had revenue of $227.38 million during the quarter, compared to analysts’ expectations of $225.77 million. During the same quarter in the prior year, the company earned ($0.30) earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts predict that Pegasystems will post -1.01 EPS for the current year.

In related news, CAO Efstathios A. Kouninis sold 490 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $92.00, for a total value of $45,080.00. Following the completion of the transaction, the chief accounting officer now owns 2,520 shares of the company’s stock, valued at $231,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas I. Kra sold 6,810 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $83.72, for a total value of $570,133.20. Following the completion of the transaction, the senior vice president now directly owns 52,160 shares of the company’s stock, valued at approximately $4,366,835.20. The disclosure for this sale can be found here. Insiders sold 16,534 shares of company stock valued at $1,507,039 in the last ninety days. Company insiders own 51.89% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its holdings in Pegasystems by 35.6% in the first quarter. Parametric Portfolio Associates LLC now owns 38,953 shares of the technology company’s stock valued at $2,775,000 after purchasing an additional 10,223 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Pegasystems by 14.4% during the 1st quarter. Wells Fargo & Company MN now owns 119,501 shares of the technology company’s stock worth $8,513,000 after buying an additional 15,061 shares during the last quarter. Legal & General Group Plc lifted its holdings in Pegasystems by 10.4% during the 1st quarter. Legal & General Group Plc now owns 30,153 shares of the technology company’s stock worth $2,148,000 after buying an additional 2,840 shares during the last quarter. FDx Advisors Inc. bought a new position in Pegasystems during the 1st quarter worth approximately $2,011,000. Finally, Norges Bank bought a new position in Pegasystems during the 4th quarter worth approximately $33,822,000. 48.30% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Company Profile

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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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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