Pegasystems Inc. Receives a Buy from JMP Securities

By Austin Angelo

JMP Securities analyst Greg McDowell reiterated a Buy rating on Pegasystems Inc. (NASDAQ: PEGA) today. The company’s shares opened today at $31.20.

According to TipRanks.com, McDowell is a 1-star analyst with an average return of -2.3% and a 40.7% success rate. McDowell covers the Technology sector, focusing on stocks such as Progress Software Corp., Intralinks Holdings, and Limelight Networks.

Currently, the analyst consensus on Pegasystems Inc. is Moderate Buy and the average price target is $30, representing a -3.8% downside.

In a report released today, Wedbush also reiterated a Buy rating on the stock with a $34 price target.

The company has a one year high of $33.85 and a one year low of $20.38. Currently, Pegasystems Inc. has an average volume of 316.7K.

Based on the recent corporate insider activity of 121 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, William W. Wyman, a Director at PEGA sold 16,700 shares for a total of $466,097.

Pegasystems, Inc. develops, markets, licenses and supports software, which allows organizations to build, deploy, and change enterprise applications. It operates through the following division: Application Development, Business Process Management, Case Management, Cloud, Data and Integrations, Decision Hub, Internet of Things, and Mobile. The company was founded by Alan Trefler in 1983 and is headquartered in Cambridge, MA.