Pegasystems (NASDAQ:PEGA) PT Raised to $82.00 at Barclays

by · The Markets Daily

Pegasystems (NASDAQ:PEGA – Get Free Report) had its target price lifted by investment analysts at Barclays from $74.00 to $82.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 3.42% from the company’s current price.

Several other brokerages also recently commented on PEGA. The Goldman Sachs Group raised their target price on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Wedbush raised their target price on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday. William Blair upgraded Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Wednesday, July 31st. Finally, DA Davidson raised their price target on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.90.

Check Out Our Latest Stock Analysis on PEGA

Pegasystems Stock Down 0.8 %

Pegasystems stock traded down $0.67 during trading hours on Friday, reaching $79.29. 888,075 shares of the company’s stock were exchanged, compared to its average volume of 546,623. The firm’s 50 day simple moving average is $69.99 and its 200 day simple moving average is $64.01. Pegasystems has a twelve month low of $38.94 and a twelve month high of $82.19. The firm has a market capitalization of $6.77 billion, a PE ratio of 54.56 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million during 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% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS. Analysts anticipate that Pegasystems will post 1.54 EPS for the current year.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total transaction of $73,170.00. Following the transaction, the chief financial officer now owns 17,262 shares of the company’s stock, valued at $1,263,060.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,211.68. Following the completion of the sale, the insider now owns 38,412 shares in the company, valued at $2,769,121.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the sale, the chief financial officer now owns 17,262 shares of the company’s stock, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,955 shares of company stock valued at $3,136,247 in the last 90 days. 50.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in shares of Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after purchasing an additional 756 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Pegasystems during the 3rd quarter worth approximately $57,000. Headlands Technologies LLC increased its stake in shares of Pegasystems by 64.0% during the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after purchasing an additional 339 shares during the last quarter. Covestor Ltd grew its stake in Pegasystems by 633.9% in the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after buying an additional 1,065 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Pegasystems in the 2nd quarter valued at approximately $104,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

(Get Free Report)

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.

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