Pegasystems (NASDAQ:PEGA) Receives Outperform Rating from Wedbush

Pegasystems (NASDAQ:PEGA)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research note issued on Friday, Benzinga reports. They currently have a $90.00 price target on the technology company’s stock. Wedbush’s price target indicates a potential upside of 44.23% from the stock’s previous close.

Several other brokerages have also weighed in on PEGA. The Goldman Sachs Group upped their price objective on Pegasystems from $50.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Citigroup upped their target price on Pegasystems from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, March 22nd. TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. Barclays upped their target price on Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Royal Bank of Canada upped their target price on Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Three equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.33.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA traded up $3.32 on Friday, hitting $62.40. The company’s stock had a trading volume of 157,343 shares, compared to its average volume of 484,739. Pegasystems has a 12 month low of $37.66 and a 12 month high of $69.26. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 74.89 and a beta of 1.06. The stock’s 50-day moving average is $62.90 and its two-hundred day moving average is $52.99. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.78 and a current ratio of 1.78.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.64. The business had revenue of $474.23 million during the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a return on equity of 53.49% and a net margin of 5.32%. On average, equities research analysts forecast that Pegasystems will post 1.49 EPS for the current year.

Insider Activity at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 752 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the transaction, the insider now directly owns 39,940 shares of the company’s stock, valued at approximately $2,564,148. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Efstathios A. Kouninis sold 395 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total transaction of $25,576.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Leon Trefler sold 752 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $64.20, for a total value of $48,278.40. Following the transaction, the insider now directly owns 39,940 shares in the company, valued at approximately $2,564,148. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,792 shares of company stock valued at $2,781,669. Company insiders own 50.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bares Capital Management Inc. increased its holdings in shares of Pegasystems by 1.6% during the 4th quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock valued at $286,434,000 after acquiring an additional 90,993 shares during the last quarter. Vanguard Group Inc. boosted its stake in Pegasystems by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company’s stock valued at $250,113,000 after purchasing an additional 114,848 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Pegasystems by 3.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after acquiring an additional 31,925 shares during the period. Federated Hermes Inc. lifted its position in shares of Pegasystems by 4.9% in the 3rd quarter. Federated Hermes Inc. now owns 808,001 shares of the technology company’s stock worth $35,075,000 after acquiring an additional 37,880 shares during the period. Finally, Ranger Investment Management L.P. lifted its position in shares of Pegasystems by 29.9% in the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after acquiring an additional 143,986 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.