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Pegasystems (NASDAQ:PEGA) was downgraded by stock analysts at Merriman Capital from a “buy” rating to a “neutral” rating in a report issued on Thursday. They currently have a $24.00 price target on the stock. Merriman Capital’s price objective points to a potential upside of 15.00% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Pegasystems from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 3rd. They now have a $23.50 price target on the stock. Separately, analysts at TheStreet upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Finally, analysts at Wedbush upgraded shares of Pegasystems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $27.00 price target on the stock, up previously from $25.00. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $24.58.

In other Pegasystems news, Director Richard H. Jones sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $22.74, for a total value of $45,480.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Pegasystems (NASDAQ:PEGA) traded down 2.34% on Thursday, hitting $20.87. 274,624 shares of the company’s stock traded hands. Pegasystems has a 52 week low of $15.51 and a 52 week high of $25.765. The stock’s 50-day moving average is $21.47 and its 200-day moving average is $20.33. The company has a market cap of $1.591 billion and a P/E ratio of 43.61.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.03. The company had revenue of $142.20 million for the quarter, compared to the consensus estimate of $136.60 million. During the same quarter last year, the company posted $0.33 earnings per share. Pegasystems’s revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that Pegasystems will post $0.81 earnings per share for the current fiscal year.

Pegasystems Inc develops, markets, licenses, and supports software, which allows organizations to build, deploy, and change enterprise applications.

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