Pegasystems’ (PEGA) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a report issued on Thursday morning, The Fly reports. They currently have a $105.00 price target on the technology company’s stock.

A number of other brokerages have also commented on PEGA. BidaskClub upgraded Pegasystems from a buy rating to a strong-buy rating in a research note on Wednesday, January 29th. Rosenblatt Securities initiated coverage on Pegasystems in a research note on Tuesday, January 21st. They issued a buy rating and a $120.00 target price for the company. KeyCorp upped their target price on Pegasystems from $106.00 to $110.00 and gave the company an overweight rating in a research note on Thursday. ValuEngine lowered Pegasystems from a buy rating to a hold rating in a research note on Tuesday, December 3rd. Finally, Zacks Investment Research upgraded Pegasystems from a sell rating to a hold rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $94.63.

Shares of PEGA stock traded up $1.21 during trading hours on Thursday, reaching $98.88. 781,308 shares of the company’s stock were exchanged, compared to its average volume of 295,250. Pegasystems has a fifty-two week low of $56.75 and a fifty-two week high of $99.36. The stock has a market capitalization of $7.06 billion, a P/E ratio of -103.00 and a beta of 1.18. The business has a fifty day moving average price of $85.51 and a 200-day moving average price of $76.58. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.11.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.18). Pegasystems had a negative return on equity of 14.16% and a negative net margin of 8.41%. The business had revenue of $276.54 million for the quarter, compared to analyst estimates of $290.22 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Pegasystems will post -0.92 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st were paid a $0.03 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%.

In other Pegasystems news, Director Richard H. Jones sold 14,000 shares of the 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 transaction, the director now directly owns 299,544 shares in the company, valued at $23,990,478.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Leon Trefler sold 619 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $75.34, for a total value of $46,635.46. Following the transaction, the senior vice president now owns 8,267 shares of the company’s stock, valued at $622,835.78. The disclosure for this sale can be found here. Insiders sold 35,038 shares of company stock valued at $2,746,849 over the last 90 days. 52.37% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in PEGA. Tower Research Capital LLC TRC boosted its holdings in Pegasystems by 27.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,250 shares of the technology company’s stock valued at $85,000 after acquiring an additional 273 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Pegasystems by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 1,690 shares of the technology company’s stock valued at $115,000 after acquiring an additional 596 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Pegasystems in the third quarter valued at about $122,000. Piedmont Investment Advisors Inc. bought a new position in Pegasystems in the fourth quarter valued at about $224,000. Finally, PEAK6 Investments LLC bought a new position in Pegasystems in the fourth quarter valued at about $229,000. Hedge funds and other institutional investors own 45.56% of the company’s stock.

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.

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The Fly

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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