Pegasystems (PEGA) Upgraded to Buy at BidaskClub

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BidaskClub upgraded shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a buy rating in a research report report published on Saturday, BidAskClub reports.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Pegasystems from a hold rating to a strong sell rating in a report on Tuesday, May 14th. JMP Securities increased their price target on Pegasystems from $72.00 to $81.00 and gave the stock a market outperform rating in a research report on Wednesday, May 8th. Benchmark restated a buy rating and set a $80.00 price target (up from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. Wedbush restated an outperform rating and set a $90.00 price target (up from $84.00) on shares of Pegasystems in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, UBS Group increased their price target on Pegasystems to $78.00 and gave the stock an overweight rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $79.20.

Shares of PEGA traded down $0.47 during mid-day trading on Friday, reaching $71.59. The company had a trading volume of 300,039 shares, compared to its average volume of 343,481. Pegasystems has a twelve month low of $43.21 and a twelve month high of $76.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.86 and a quick ratio of 1.86.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.24). Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The company had revenue of $212.50 million during the quarter, compared to analyst estimates of $237.63 million. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, research analysts forecast that Pegasystems will post -0.7 earnings per share for the current year.

In related news, Director Richard H. Jones sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.89, for a total transaction of $1,622,250.00. Following the sale, the director now directly owns 297,537 shares in the company, valued at approximately $19,307,175.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 1,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $73.70, for a total value of $73,700.00. Following the completion of the transaction, the chief financial officer now owns 6,369 shares in the company, valued at $469,395.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,903 shares of company stock worth $3,456,274. 52.85% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantamental Technologies LLC boosted its position in Pegasystems by 542.2% in the 1st quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock valued at $27,000 after buying an additional 347 shares during the last quarter. Parallel Advisors LLC boosted its position in Pegasystems by 46.1% in the 4th quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock valued at $37,000 after buying an additional 250 shares during the last quarter. Tyers Asset Management LLC bought a new position in Pegasystems in the 1st quarter valued at $53,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Pegasystems by 21.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 841 shares of the technology company’s stock valued at $55,000 after buying an additional 151 shares during the last quarter. Finally, Lloyds Banking Group plc bought a new position in Pegasystems in the 4th quarter valued at $65,000. Hedge funds and other institutional investors own 47.32% of the company’s stock.

About Pegasystems

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.

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