Pegasystems (NASDAQ:PEGA) Price Target Raised to $100.00

Pegasystems (NASDAQ:PEGA) had its target price lifted by investment analysts at Wedbush from $90.00 to $100.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Wedbush’s target price would indicate a potential upside of 25.28% from the stock’s current price.

PEGA has been the topic of several other research reports. DA Davidson upped their price target on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Barclays upped their price objective on shares of Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their price target on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Citigroup increased their price target on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, JMP Securities raised shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.10.

Pegasystems Stock Performance

NASDAQ PEGA traded down $0.14 during trading on Friday, reaching $79.82. The company’s stock had a trading volume of 661,041 shares, compared to its average volume of 545,526. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 55.66 and a beta of 1.07. Pegasystems has a twelve month low of $38.94 and a twelve month high of $82.19. The business’s fifty day moving average price is $69.99 and its 200-day moving average price is $64.01.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. During the same period in the previous year, the business posted $0.14 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Pegasystems will post 1.54 EPS for the current fiscal year.

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,067.50. Following the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at $54,211.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Pegasystems news, CAO Efstathios A. Kouninis sold 932 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $71.00, for a total value of $66,172.00. Following the completion of the sale, the chief accounting officer now directly owns 2 shares of the company’s stock, valued at $142. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the sale, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at $54,211.68. 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 valued at $3,136,247 in the last quarter. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after buying an additional 250,273 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Pegasystems in the 1st quarter valued at about $1,161,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Pegasystems by 309.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock valued at $8,422,000 after purchasing an additional 98,465 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Pegasystems by 6.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 49,541 shares of the technology company’s stock valued at $3,202,000 after acquiring an additional 2,831 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Pegasystems in the 1st quarter valued at approximately $2,038,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

About Pegasystems

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.