Pegasystems (NASDAQ:PEGA) PT Raised to $95.00

Pegasystems (NASDAQ:PEGA) had its price target increased by equities researchers at Rosenblatt Securities from $90.00 to $95.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 18.81% from the company’s previous close.

A number of other equities analysts have also issued reports on PEGA. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Wednesday, July 31st. DA Davidson lifted their price target on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their target price on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays increased their price target on shares of Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.10.

Pegasystems Price Performance

Pegasystems stock opened at $79.96 on Friday. The company has a fifty day moving average price of $69.99 and a two-hundred day moving average price of $64.01. Pegasystems has a 12 month low of $37.66 and a 12 month high of $80.12. The company has a market cap of $6.83 billion, a PE ratio of 55.15 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The business had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Equities research analysts anticipate that Pegasystems will post 1.54 earnings per share for the current year.

Insider Buying and Selling

In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total transaction of $203,933.45. Following the completion of the sale, the chief financial officer now directly owns 18,197 shares in the company, valued at $1,229,207.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Richard H. Jones sold 15,271 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the transaction, the director now directly owns 371,787 shares in the company, valued at $25,746,249.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 3,019 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total value of $203,933.45. Following the sale, the chief financial officer now owns 18,197 shares in the company, valued at approximately $1,229,207.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,955 shares of company stock worth $3,136,247 in the last quarter. 50.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc raised its stake in Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after acquiring an additional 756 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after buying an additional 339 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of Pegasystems in the 3rd quarter valued at $57,000. Covestor Ltd boosted its holdings in Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after buying an additional 1,065 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Pegasystems during the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.