Wedbush Reiterates Outperform Rating for Pegasystems (NASDAQ:PEGA)

Pegasystems (NASDAQ:PEGA)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $90.00 target price on the technology company’s stock. Wedbush’s target price would suggest a potential upside of 45.63% from the stock’s previous close.

PEGA has been the subject of several other reports. Barclays raised their target price on Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday. StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. DA Davidson reaffirmed a “neutral” rating and set a $60.00 target price on shares of Pegasystems in a research report on Monday, March 4th. TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada lifted their price objective on Pegasystems from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Pegasystems Trading Up 4.6 %

NASDAQ PEGA opened at $61.80 on Friday. The firm has a market capitalization of $5.25 billion, a P/E ratio of 75.37 and a beta of 1.06. The business has a fifty day simple moving average of $62.83 and a 200 day simple moving average of $53.19. Pegasystems has a 12 month low of $37.66 and a 12 month high of $69.26.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.64. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The firm had revenue of $474.23 million during the quarter, compared to analyst estimates of $428.76 million. As a group, sell-side analysts predict that Pegasystems will post 1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the completion of the transaction, the chief financial officer now owns 24,535 shares in the company, valued at approximately $1,549,875.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the sale, the chief financial officer now owns 24,535 shares in the company, valued at approximately $1,549,875.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Jones sold 10,000 shares of Pegasystems stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $63.39, for a total value of $633,900.00. Following the sale, the director now owns 379,658 shares of the company’s stock, valued at approximately $24,066,520.62. The disclosure for this sale can be found here. Insiders sold a total of 43,792 shares of company stock worth $2,781,669 in the last quarter. 50.20% of the stock is owned by company insiders.

Institutional Trading of Pegasystems

A number of large investors have recently modified their holdings of PEGA. Norges Bank bought a new stake in shares of Pegasystems during the 4th quarter valued at about $22,784,000. Vanguard Group Inc. lifted its position in Pegasystems by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock worth $217,229,000 after buying an additional 310,242 shares during the last quarter. Boston Partners bought a new stake in Pegasystems in the 4th quarter worth approximately $11,958,000. Scopia Capital Management LP bought a new stake in Pegasystems in the 3rd quarter worth approximately $10,195,000. Finally, Acadian Asset Management LLC lifted its position in Pegasystems by 208.7% in the 3rd quarter. Acadian Asset Management LLC now owns 238,501 shares of the technology company’s stock worth $10,344,000 after buying an additional 161,234 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.