Pegasystems Inc. (NASDAQ:PEGA) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $61.75.

PEGA has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a report on Friday, May 19th. Benchmark Co. restated a “buy” rating and issued a $67.00 target price (up from $60.00) on shares of Pegasystems in a report on Tuesday, June 6th. JMP Securities restated an “outperform” rating and issued a $63.00 target price (up from $55.00) on shares of Pegasystems in a report on Wednesday, June 7th. BidaskClub lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday, July 19th.

Shares of Pegasystems (NASDAQ:PEGA) traded up 0.98% during midday trading on Friday, hitting $56.50. 514,761 shares of the stock were exchanged. The firm has a 50-day moving average price of $56.62 and a 200 day moving average price of $53.09. The firm has a market cap of $4.39 billion, a PE ratio of 90.40 and a beta of 1.50. Pegasystems has a 12-month low of $27.20 and a 12-month high of $64.85.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.04). The firm had revenue of $197.98 million during the quarter, compared to analysts’ expectations of $205.06 million. Pegasystems had a net margin of 6.17% and a return on equity of 13.06%. Pegasystems’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. Analysts predict that Pegasystems will post $0.97 earnings per share for the current fiscal year.

In other news, CFO Kenneth Stillwell sold 4,283 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $60.48, for a total transaction of $259,035.84. Following the completion of the transaction, the chief financial officer now owns 8,746 shares of the company’s stock, valued at approximately $528,958.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Efstathios A. Kouninis sold 448 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $56.51, for a total transaction of $25,316.48. Following the transaction, the vice president now directly owns 585 shares of the company’s stock, valued at approximately $33,058.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,374 shares of company stock worth $2,645,288. 53.61% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its stake in shares of Pegasystems by 1.3% during the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the technology company’s stock valued at $280,000 after acquiring an additional 62 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Pegasystems by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 14,206 shares of the technology company’s stock valued at $830,000 after acquiring an additional 155 shares during the last quarter. US Bancorp DE increased its stake in shares of Pegasystems by 0.9% during the 1st quarter. US Bancorp DE now owns 19,856 shares of the technology company’s stock valued at $871,000 after acquiring an additional 171 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Pegasystems by 0.4% during the 1st quarter. Nationwide Fund Advisors now owns 51,537 shares of the technology company’s stock valued at $2,260,000 after acquiring an additional 219 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of Pegasystems by 3.0% during the 1st quarter. Suntrust Banks Inc. now owns 8,471 shares of the technology company’s stock valued at $371,000 after acquiring an additional 250 shares during the last quarter. 44.63% of the stock is owned by institutional investors.

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About Pegasystems

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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