Pegasystems (NASDAQ:PEGA) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Pegasystems (NASDAQ:PEGA – Get Rating) in a research note released on Thursday. The firm issued a hold rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on Pegasystems from $31.00 to $43.00 and gave the company a neutral rating in a report on Friday, February 17th. Credit Suisse Group increased their target price on Pegasystems from $40.00 to $45.00 and gave the company a hold rating in a research note on Thursday, February 16th. William Blair began coverage on Pegasystems in a research note on Thursday, March 9th. They issued a market perform rating on the stock. Royal Bank of Canada increased their target price on Pegasystems from $42.00 to $55.00 and gave the company an outperform rating in a research note on Thursday, February 16th. Finally, Loop Capital increased their target price on Pegasystems from $35.00 to $45.00 and gave the company a hold rating in a research note on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $50.20.

Pegasystems Price Performance

Pegasystems stock opened at $46.86 on Thursday. The business’s 50-day simple moving average is $41.95 and its 200 day simple moving average is $37.39. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -11.08 and a beta of 1.03. Pegasystems has a 12-month low of $29.05 and a 12-month high of $83.41. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 4.54.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,622 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $48.59, for a total value of $78,812.98. Following the completion of the transaction, the insider now directly owns 50,592 shares in the company, valued at $2,458,265.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 50.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis boosted its stake in shares of Pegasystems by 38.2% during the 4th quarter. Natixis now owns 67,212 shares of the technology company’s stock worth $2,301,000 after acquiring an additional 18,563 shares during the period. Point72 Middle East FZE bought a new position in shares of Pegasystems during the 4th quarter worth approximately $179,000. Captrust Financial Advisors bought a new position in shares of Pegasystems during the 4th quarter worth approximately $246,000. Bares Capital Management Inc. lifted its holdings in Pegasystems by 1.2% during the 4th quarter. Bares Capital Management Inc. now owns 5,550,701 shares of the technology company’s stock worth $190,056,000 after purchasing an additional 65,467 shares during the last quarter. Finally, Norges Bank acquired a new stake in Pegasystems during the 4th quarter worth approximately $14,212,000. 48.22% of the stock is currently owned by institutional investors.

Pegasystems Company Profile

(Get Rating)

Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. Its product Pega Infinity helps connect enterprises to their customers in real-time across channels, streamline business operations, and adapt to meet changing requirements.