Pegasystems (NASDAQ:PEGA) Earns “Buy” Rating from Rosenblatt Securities
by Renee Jackson · The Cerbat GemPegasystems (NASDAQ:PEGA – Get Free Report)‘s stock had its “buy” rating reaffirmed by Rosenblatt Securities in a report issued on Monday,Benzinga reports. They currently have a $62.00 price objective on the technology company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 42.17% from the stock’s current price.
Several other research firms have also weighed in on PEGA. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a research report on Friday, March 27th. Citizens Jmp lowered their price objective on Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a research report on Thursday, February 12th. KeyCorp set a $60.00 price objective on Pegasystems in a research report on Thursday, February 5th. Royal Bank Of Canada set a $65.00 price objective on Pegasystems and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.10.
Read Our Latest Analysis on PEGA
Pegasystems Price Performance
Shares of NASDAQ:PEGA opened at $43.61 on Monday. The firm has a market cap of $7.37 billion, a P/E ratio of 20.43 and a beta of 1.09. Pegasystems has a 12-month low of $32.94 and a 12-month high of $68.10. The business has a fifty day simple moving average of $43.06 and a 200 day simple moving average of $51.71.
Pegasystems (NASDAQ:PEGA – Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. Pegasystems had a return on equity of 38.86% and a net margin of 22.54%.The firm had revenue of $504.32 million during the quarter, compared to analyst estimates of $494.60 million. During the same period last year, the company posted $0.80 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Pegasystems has set its FY 2026 guidance at 2.750-2.750 EPS. As a group, equities research analysts expect that Pegasystems will post 1.89 EPS for the current year.
Insider Transactions at Pegasystems
In other news, insider Rifat Kerim Akgonul sold 7,594 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $43.39, for a total value of $329,503.66. Following the completion of the sale, the insider directly owned 111,429 shares in the company, valued at $4,834,904.31. This trade represents a 6.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 44,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $44.81, for a total value of $1,971,640.00. Following the completion of the sale, the chief financial officer owned 109,123 shares of the company’s stock, valued at approximately $4,889,801.63. This represents a 28.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 97,594 shares of company stock valued at $4,549,924. 50.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Pegasystems
A number of hedge funds have recently added to or reduced their stakes in PEGA. AQR Capital Management LLC boosted its stake in Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after purchasing an additional 2,836,733 shares during the last quarter. State Street Corp boosted its stake in Pegasystems by 255.3% during the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after purchasing an additional 2,089,375 shares during the last quarter. American Century Companies Inc. boosted its stake in Pegasystems by 357.6% during the 3rd quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock valued at $91,241,000 after purchasing an additional 1,239,998 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Pegasystems by 23.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock valued at $286,769,000 after purchasing an additional 937,216 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Pegasystems by 3,771.3% during the 3rd quarter. Pacer Advisors Inc. now owns 850,904 shares of the technology company’s stock valued at $48,927,000 after purchasing an additional 828,924 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.
About Pegasystems
Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.
The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.