Rosenblatt Securities Increases Pegasystems (NASDAQ:PEGA) Price Target to $95.00

Pegasystems (NASDAQ:PEGA) had its target price increased by investment analysts at Rosenblatt Securities from $90.00 to $95.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 18.71% from the stock’s previous close.

Several other research firms have also commented on PEGA. StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Friday. Barclays raised their price objective on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group increased their target price on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and a consensus target price of $85.90.

Pegasystems Trading Up 0.1 %

PEGA opened at $80.03 on Friday. The stock has a market capitalization of $6.84 billion, a P/E ratio of 55.19 and a beta of 1.07. The stock has a 50-day moving average price of $70.44 and a 200-day moving average price of $64.25. Pegasystems has a 12-month low of $38.94 and a 12-month high of $82.22.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The business had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. Pegasystems’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. On average, equities research analysts predict that Pegasystems will post 1.54 EPS for the current year.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the company’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 transaction, the chief accounting officer now owns 752 shares in the company, valued at $54,211.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $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 hyperlink. Also, Director Richard H. Jones sold 15,271 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the completion of the sale, the director now owns 371,787 shares of the company’s stock, valued at $25,746,249.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,955 shares of company stock worth $3,136,247. 50.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pegasystems

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Pegasystems by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company’s stock valued at $250,113,000 after buying an additional 114,848 shares during the period. PNC Financial Services Group Inc. boosted its stake in Pegasystems by 10.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,008 shares of the technology company’s stock worth $294,000 after acquiring an additional 579 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Pegasystems in the first quarter worth about $758,000. Duality Advisers LP grew its holdings in Pegasystems by 2.7% in the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after purchasing an additional 363 shares during the period. Finally, ClariVest Asset Management LLC increased its stake in shares of Pegasystems by 113.2% during the first quarter. ClariVest Asset Management LLC now owns 39,569 shares of the technology company’s stock valued at $2,558,000 after purchasing an additional 21,008 shares in the last quarter. 46.89% of the stock is currently 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.