Wedbush Reiterates a Buy Rating on Pegasystems Inc.

By Carrie Williams

In a report released today, Steven Koenig from Wedbush reiterated a Buy rating on Pegasystems Inc. (NASDAQ: PEGA), with a price target of $34. The company’s shares opened today at $31.20.

According to TipRanks.com, Koenig is a 4-star analyst with an average return of 3.1% and a 45.6% success rate. Koenig covers the Technology sector, focusing on stocks such as Progress Software Corp., Informatica Corp., and Ultimate Software.

Pegasystems Inc. has an analyst consensus of Moderate Buy, with a price target consensus of $30.

Pegasystems Inc.’s market cap is currently $2.25B and has a P/E ratio of 58.9. The company has a book value ratio of 6.9199.

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.