Pegasystems (NASDAQ:PEGA) Price Target Lowered to $85.00 at Loop Capital

Pegasystems (NASDAQ:PEGA) had its target price dropped by research analysts at Loop Capital from $115.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Loop Capital’s price target indicates a potential upside of 24.36% from the stock’s current price.

Several other analysts also recently weighed in on PEGA. Citigroup boosted their price target on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Rosenblatt Securities lifted their target price on shares of Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. KeyCorp cut their target price on Pegasystems from $118.00 to $94.00 and set an “overweight” rating on the stock in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price objective on shares of Pegasystems in a research note on Thursday, February 13th. Finally, DA Davidson reduced their price target on shares of Pegasystems from $90.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Pegasystems presently has a consensus rating of “Moderate Buy” and an average price target of $97.27.

Pegasystems Trading Up 0.5 %

PEGA stock traded up $0.34 during midday trading on Thursday, reaching $68.35. The company had a trading volume of 167,169 shares, compared to its average volume of 662,050. The company has a 50 day moving average of $75.51 and a two-hundred day moving average of $85.30. The company has a market capitalization of $5.87 billion, a P/E ratio of 67.72 and a beta of 1.22. Pegasystems has a 1 year low of $54.55 and a 1 year high of $113.67.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, sell-side analysts anticipate that Pegasystems will post 1.89 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the completion of the transaction, the chairman now directly owns 17,308,786 shares in the company, valued at $1,339,353,860.68. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the completion of the sale, the chief financial officer now owns 14,466 shares in the company, valued at $1,528,043.58. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,791 shares of company stock worth $6,134,554. 50.10% of the stock is owned by corporate insiders.

Institutional Trading of Pegasystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. boosted its holdings in shares of Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after acquiring an additional 167 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after buying an additional 149 shares during the last quarter. CX Institutional bought a new stake in shares of Pegasystems in the 1st quarter worth $36,000. GAMMA Investing LLC grew its holdings in shares of Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after acquiring an additional 201 shares during the period. Finally, Global Retirement Partners LLC increased its position in Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after buying an additional 256 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

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.