StockNews.com Downgrades Pegasystems (NASDAQ:PEGA) to Hold

Pegasystems (NASDAQ:PEGA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Rosenblatt Securities lifted their target price on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. Finally, Wedbush upped their price target on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Stock Up 4.0 %

Shares of PEGA stock opened at $84.31 on Monday. The company’s fifty day simple moving average is $72.20 and its two-hundred day simple moving average is $65.36. Pegasystems has a 52 week low of $44.00 and a 52 week high of $84.42. The stock has a market cap of $7.23 billion, a P/E ratio of 61.54 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same period in the prior year, the company earned $0.14 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. On average, analysts anticipate that Pegasystems will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling at Pegasystems

In other news, insider Leon Trefler sold 8,288 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $81.23, for a total value of $673,234.24. Following the sale, the insider now directly owns 37,636 shares in the company, valued at approximately $3,057,172.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total transaction of $203,933.45. Following the sale, the chief financial officer now owns 18,197 shares of the company’s stock, valued at approximately $1,229,207.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Leon Trefler sold 8,288 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $81.23, for a total value of $673,234.24. Following the completion of the transaction, the insider now directly owns 37,636 shares in the company, valued at approximately $3,057,172.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,565 shares of company stock worth $2,998,565 over the last quarter. Insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PEGA. Janney Montgomery Scott LLC purchased a new position in Pegasystems during the 1st quarter worth approximately $758,000. Duality Advisers LP raised its holdings in shares of Pegasystems by 2.7% during the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after purchasing an additional 363 shares during the last quarter. ClariVest Asset Management LLC lifted its position in Pegasystems by 113.2% during the first quarter. ClariVest Asset Management LLC now owns 39,569 shares of the technology company’s stock valued at $2,558,000 after purchasing an additional 21,008 shares during the period. Swiss National Bank boosted its holdings in Pegasystems by 0.5% in the first quarter. Swiss National Bank now owns 82,500 shares of the technology company’s stock valued at $5,333,000 after purchasing an additional 400 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Pegasystems during the 1st quarter worth about $2,038,000. 46.89% of the stock is owned by institutional investors and hedge funds.

About Pegasystems

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.