BidaskClub Upgrades Pegasystems (NASDAQ:PEGA) to Buy

Share on StockTwits

Pegasystems (NASDAQ:PEGA) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other research firms also recently issued reports on PEGA. ValuEngine downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. DA Davidson increased their target price on shares of Pegasystems to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Zacks Investment Research downgraded shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Pegasystems has a consensus rating of “Buy” and a consensus target price of $82.67.

PEGA stock traded up $1.40 during midday trading on Tuesday, reaching $85.36. The company had a trading volume of 7,837 shares, compared to its average volume of 232,013. Pegasystems has a 1 year low of $52.12 and a 1 year high of $84.06. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $78.55 and a two-hundred day moving average of $74.59.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Thursday, November 7th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.23). Pegasystems had a negative net margin of 8.41% and a negative return on equity of 14.16%. The company had revenue of $216.70 million during the quarter, compared to the consensus estimate of $216.68 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Pegasystems will post -0.92 earnings per share for the current fiscal year.

In other Pegasystems news, CAO Efstathios A. Kouninis sold 438 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $78.00, for a total value of $34,164.00. Following the completion of the sale, the chief accounting officer now directly owns 465 shares of the company’s stock, valued at approximately $36,270. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard H. Jones sold 14,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $80.09, for a total transaction of $1,121,260.00. Following the completion of the sale, the director now owns 299,544 shares in the company, valued at $23,990,478.96. The disclosure for this sale can be found here. Insiders sold a total of 51,287 shares of company stock worth $3,954,867 over the last three months. 52.37% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PEGA. Wells Fargo & Company MN raised its position in shares of Pegasystems by 4.8% during the second quarter. Wells Fargo & Company MN now owns 57,493 shares of the technology company’s stock valued at $4,094,000 after buying an additional 2,650 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Pegasystems by 152.8% during the second quarter. JPMorgan Chase & Co. now owns 10,364 shares of the technology company’s stock valued at $729,000 after buying an additional 6,264 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Pegasystems during the second quarter valued at about $287,000. Charles Schwab Investment Management Inc. raised its position in shares of Pegasystems by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 153,413 shares of the technology company’s stock valued at $10,925,000 after buying an additional 1,913 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of Pegasystems by 16.7% during the second quarter. LPL Financial LLC now owns 4,282 shares of the technology company’s stock valued at $305,000 after buying an additional 612 shares during the last quarter. 45.58% of the stock is owned by institutional investors and hedge funds.

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.

Featured Article: What is the Consumer Price Index (CPI)?

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

Receive News & Ratings for Pegasystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pegasystems and related companies with MarketBeat.com's FREE daily email newsletter.