Pegasystems Inc. (NASDAQ:PEGA) has been assigned a $57.00 price objective by equities research analysts at Mitsubishi UFJ Financial Group in a note issued to investors on Thursday. The firm currently has a “buy” rating on the technology company’s stock. Mitsubishi UFJ Financial Group’s price objective indicates a potential downside of 2.23% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Wedbush reissued an “outperform” rating and set a $50.00 price target (up previously from $46.00) on shares of Pegasystems in a research report on Tuesday, May 2nd. Zacks Investment Research cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. JMP Securities reissued an “outperform” rating and set a $63.00 price target (up previously from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Finally, Benchmark Co. reissued a “buy” rating and set a $67.00 price target (up previously from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $63.00.

Shares of Pegasystems (NASDAQ PEGA) opened at 58.30 on Thursday. The stock has a 50 day moving average of $60.01 and a 200 day moving average of $50.22. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 106.97 and a beta of 1.46. Pegasystems has a 12-month low of $24.94 and a 12-month high of $64.85.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by $0.02. The firm had revenue of $197.98 million for the quarter, compared to analyst estimates of $205.06 million. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. Equities research analysts predict that Pegasystems will post $1.06 earnings per share for the current fiscal year.

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In other Pegasystems news, CFO Kenneth Stillwell sold 4,283 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $60.48, for a total value of $259,035.84. Following the transaction, the chief financial officer now owns 8,746 shares of the company’s stock, valued at $528,958.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Leon Trefler sold 9,060 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $64.30, for a total transaction of $582,558.00. Following the completion of the transaction, the senior vice president now directly owns 11,218 shares in the company, valued at approximately $721,317.40. The disclosure for this sale can be found here. Insiders sold 85,886 shares of company stock worth $5,044,204 in the last ninety days. 53.61% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted its position in Pegasystems by 1.3% in the second quarter. Bank of Montreal Can now owns 4,785 shares of the technology company’s stock worth $280,000 after buying an additional 62 shares during the last quarter. Legal & General Group Plc boosted its position in Pegasystems by 1.1% in the second quarter. Legal & General Group Plc now owns 14,206 shares of the technology company’s stock worth $830,000 after buying an additional 155 shares during the last quarter. US Bancorp DE boosted its position in Pegasystems by 0.9% in the first quarter. US Bancorp DE now owns 19,856 shares of the technology company’s stock worth $871,000 after buying an additional 171 shares during the last quarter. Nationwide Fund Advisors boosted its position in Pegasystems by 0.4% in the first quarter. Nationwide Fund Advisors now owns 51,537 shares of the technology company’s stock worth $2,260,000 after buying an additional 219 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in Pegasystems by 3.0% in the first quarter. Suntrust Banks Inc. now owns 8,471 shares of the technology company’s stock worth $371,000 after buying an additional 250 shares during the last quarter. 44.79% of the stock is currently owned by institutional investors.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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