Pegasystems (NASDAQ:PEGA)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a report issued on Friday. They currently have a $61.85 price objective on the technology company’s stock, down from their previous price objective of $73.00. Wedbush’s price objective suggests a potential upside of 1.06% from the stock’s previous close.
PEGA has been the subject of a number of other research reports. BidaskClub cut shares of Pegasystems from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. UBS reiterated an “overweight” rating and issued a $65.00 price target on shares of Pegasystems in a research note on Tuesday, February 27th. Benchmark increased their price target on shares of Pegasystems from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, March 12th. TheStreet cut shares of Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Pegasystems currently has a consensus rating of “Buy” and an average price target of $63.81.
Pegasystems (NASDAQ PEGA) opened at $61.20 on Friday. Pegasystems has a 1-year low of $40.75 and a 1-year high of $64.85. The company has a market cap of $4,830.45, a price-to-earnings ratio of 153.00 and a beta of 1.08.
Pegasystems (NASDAQ:PEGA) last announced its earnings results on Monday, February 26th. The technology company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. Pegasystems had a net margin of 3.92% and a return on equity of 9.68%. The business had revenue of $239.54 million during the quarter, compared to analysts’ expectations of $208.48 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. equities research analysts forecast that Pegasystems will post 0.72 earnings per share for the current fiscal year.
In other Pegasystems news, VP Efstathios A. Kouninis sold 1,700 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $62.91, for a total value of $106,947.00. Following the completion of the sale, the vice president now owns 1,631 shares in the company, valued at $102,606.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Efstathios A. Kouninis sold 912 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $59.37, for a total transaction of $54,145.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,329 shares of company stock valued at $1,526,648. Corporate insiders own 53.61% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Pegasystems by 208.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,048 shares of the technology company’s stock valued at $144,000 after purchasing an additional 2,061 shares during the period. Virtu Financial LLC raised its position in shares of Pegasystems by 47.2% in the fourth quarter. Virtu Financial LLC now owns 5,816 shares of the technology company’s stock valued at $274,000 after purchasing an additional 1,865 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Pegasystems by 58.0% in the third quarter. Great West Life Assurance Co. Can now owns 4,935 shares of the technology company’s stock valued at $282,000 after purchasing an additional 1,811 shares during the period. Advisor Group Inc. raised its position in shares of Pegasystems by 792.9% in the third quarter. Advisor Group Inc. now owns 5,134 shares of the technology company’s stock valued at $296,000 after purchasing an additional 4,559 shares during the period. Finally, Sei Investments Co. raised its position in shares of Pegasystems by 189.2% in the third quarter. Sei Investments Co. now owns 6,064 shares of the technology company’s stock valued at $349,000 after purchasing an additional 3,967 shares during the period. 47.75% of the stock is currently owned by institutional investors.
Pegasystems Company Profile
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.
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