Rosenblatt Securities Reaffirms Buy Rating for Pegasystems (NASDAQ:PEGA)

Pegasystems (NASDAQ:PEGA)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a research note issued on Tuesday, Benzinga reports. They currently have a $75.00 price target on the technology company’s stock. Rosenblatt Securities’ target price suggests a potential upside of 27.38% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Barclays dropped their price objective on shares of Pegasystems from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. DA Davidson reiterated a “neutral” rating and issued a $60.00 price objective on shares of Pegasystems in a research report on Monday, March 4th. TheStreet upgraded shares of Pegasystems from a “d+” rating to a “c” rating in a research report on Thursday, February 15th. Finally, Citigroup boosted their price objective on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Pegasystems Stock Performance

Shares of PEGA opened at $58.88 on Tuesday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.41. The firm has a market cap of $4.94 billion, a PE ratio of 82.93 and a beta of 1.06. The company’s 50 day simple moving average is $63.09 and its 200-day simple moving average is $52.94. 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, topping analysts’ consensus estimates of $0.78 by $0.64. The business had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. As a group, equities analysts predict that Pegasystems will post 1.49 EPS for the current year.

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 395 shares of the stock in a transaction dated Tuesday, February 20th. The shares were 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 through this hyperlink. In related news, CAO Efstathios A. Kouninis sold 395 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total transaction of $25,576.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $64.20, for a total transaction of $48,278.40. Following the sale, the insider now directly owns 39,940 shares of the company’s stock, valued at approximately $2,564,148. The disclosure for this sale can be found here. Insiders have sold a total of 43,792 shares of company stock worth $2,781,669 in the last three months. Company insiders own 50.20% of the company’s stock.

Institutional Trading of Pegasystems

Several large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC grew its position in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after buying an additional 226 shares in the last quarter. Arizona State Retirement System lifted its stake in Pegasystems by 2.0% during the third quarter. Arizona State Retirement System now owns 11,810 shares of the technology company’s stock worth $513,000 after purchasing an additional 228 shares during the last quarter. Quent Capital LLC lifted its stake in Pegasystems by 1.8% during the fourth quarter. Quent Capital LLC now owns 12,846 shares of the technology company’s stock worth $628,000 after purchasing an additional 228 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Finally, CWM LLC lifted its stake in Pegasystems by 80.1% during the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after purchasing an additional 516 shares during the last quarter. Institutional investors and hedge funds 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.