Pegasystems (NASDAQ:PEGA) PT Raised to $90.00

Pegasystems (NASDAQ:PEGA) had its target price increased by equities researchers at Royal Bank of Canada from $77.00 to $90.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 34.77% from the stock’s previous close.

Several other brokerages have also recently issued reports on PEGA. Citigroup reduced their target price on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Barclays boosted their price objective on Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. DA Davidson boosted their price objective on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday. The Goldman Sachs Group upped their target price on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a report on Wednesday, June 12th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.14.

Pegasystems Trading Down 3.1 %

NASDAQ PEGA traded down $2.15 on Friday, hitting $66.78. 320,139 shares of the company traded hands, compared to its average volume of 503,337. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 80.85 and a beta of 1.08. The business’s 50 day moving average price is $59.33 and its 200-day moving average price is $58.68. Pegasystems has a 52-week low of $37.66 and a 52-week high of $71.27.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.22 by $0.30. Pegasystems had a return on equity of 54.99% and a net margin of 8.72%. The business had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. During the same period in the previous year, the business earned ($0.41) earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts predict that Pegasystems will post 1.5 earnings per share for the current year.

Insider Activity at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $59.78, for a total value of $119,560.00. Following the completion of the transaction, the chief financial officer now owns 22,197 shares in the company, valued at $1,326,936.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Richard H. Jones sold 10,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $60.88, for a total value of $608,800.00. Following the completion of the sale, the director now directly owns 369,658 shares of the company’s stock, valued at $22,504,779.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $59.78, for a total transaction of $119,560.00. Following the completion of the sale, the chief financial officer now directly owns 22,197 shares of the company’s stock, valued at $1,326,936.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,504 shares of company stock worth $999,794. Insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bares Capital Management Inc. increased its stake in shares of Pegasystems by 1.6% during the fourth quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock worth $286,434,000 after acquiring an additional 90,993 shares during the period. Vanguard Group Inc. grew its position in shares of Pegasystems by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after purchasing an additional 250,273 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Pegasystems by 3.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after acquiring an additional 31,925 shares during the last quarter. Ranger Investment Management L.P. boosted its holdings in shares of Pegasystems by 29.9% in the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after purchasing an additional 143,986 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Pegasystems by 77.8% in the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock valued at $32,273,000 after purchasing an additional 218,599 shares during the last quarter. 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.