Pegasystems (NASDAQ:PEGA) Rating Lowered to Sell at BidaskClub
PEGA has been the topic of a number of other reports. JMP Securities lifted their price objective on shares of Pegasystems from $72.00 to $81.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Zacks Investment Research upgraded Pegasystems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 10th. Benchmark reiterated a “buy” rating and set a $80.00 target price (up from $72.00) on shares of Pegasystems in a research note on Wednesday, May 8th. TheStreet cut Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, May 22nd. Finally, Wedbush lifted their target price on Pegasystems from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $80.20.
PEGA opened at $70.37 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average price is $74.06 and its two-hundred day moving average price is $69.41. Pegasystems has a 1 year low of $43.21 and a 1 year high of $79.67.
In other news, CFO Kenneth Stillwell sold 5,716 shares of Pegasystems stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.04, for a total transaction of $434,644.64. Following the sale, the chief financial officer now directly owns 10,233 shares in the company, valued at approximately $778,117.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Jones sold 3,000 shares of Pegasystems stock in a transaction on Monday, August 12th. The stock was sold at an average price of $70.83, for a total value of $212,490.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,757 shares of company stock worth $2,605,033 over the last quarter. Company insiders own 52.37% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Maplelane Capital LLC bought a new stake in Pegasystems in the second quarter valued at approximately $5,696,000. Zacks Investment Management bought a new stake in Pegasystems in the second quarter valued at approximately $2,967,000. Nuveen Asset Management LLC bought a new stake in Pegasystems in the second quarter valued at approximately $17,867,000. Point72 Hong Kong Ltd bought a new stake in Pegasystems in the second quarter valued at approximately $164,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Pegasystems in the second quarter valued at approximately $225,000. Institutional investors and hedge funds own 44.96% of the company’s stock.
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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