Pegasystems (NASDAQ:PEGA) PT Raised to $69.00 at Barclays

Pegasystems (NASDAQ:PEGA) had its price target raised by equities research analysts at Barclays from $66.00 to $69.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 11.65% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $75.00 target price on shares of Pegasystems in a report on Tuesday, April 23rd. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a report on Wednesday, April 10th. TheStreet upgraded Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. DA Davidson reiterated a “neutral” rating and issued a $60.00 target price on shares of Pegasystems in a report on Monday, March 4th. Finally, Citigroup raised their price target on Pegasystems from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.33.

Pegasystems Stock Up 4.6 %

PEGA opened at $61.80 on Friday. Pegasystems has a 52 week low of $37.66 and a 52 week high of $69.26. The business has a fifty day simple moving average of $62.83 and a 200-day simple moving average of $53.19. The firm has a market cap of $5.25 billion, a P/E ratio of 75.37 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. The firm had revenue of $474.23 million during the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. Sell-side analysts expect that Pegasystems will post 1.49 earnings per share for the current year.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $63.70, for a total transaction of $127,400.00. Following the sale, the chief financial officer now owns 24,884 shares in the company, valued at $1,585,110.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $64.20, for a total transaction of $48,278.40. Following the sale, the insider now owns 39,940 shares in the company, valued at $2,564,148. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $63.70, for a total value of $127,400.00. Following the sale, the chief financial officer now owns 24,884 shares in the company, valued at approximately $1,585,110.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,792 shares of company stock worth $2,781,669. Corporate insiders own 50.20% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC grew its holdings in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after buying an additional 226 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after buying an additional 364 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Pegasystems during the fourth quarter worth about $26,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Pegasystems during the fourth quarter worth about $44,000. Finally, CWM LLC boosted its holdings in Pegasystems by 80.1% in the 3rd quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after purchasing an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

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.