Pegasystems (NASDAQ:PEGA) had its price target boosted by stock analysts at Benchmark from $67.00 to $72.00 in a research note issued on Monday. The firm currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective indicates a potential upside of 15.20% from the stock’s previous close.
Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of Pegasystems from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. TheStreet lowered shares of Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, November 22nd. Zacks Investment Research raised shares of Pegasystems from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. UBS Group reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Pegasystems in a report on Tuesday, February 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 price target (up from $66.00) on shares of Pegasystems in a report on Thursday, March 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Pegasystems has an average rating of “Buy” and an average price target of $65.67.
Shares of Pegasystems (PEGA) traded down $0.35 on Monday, hitting $62.50. 41,878 shares of the stock were exchanged, compared to its average volume of 475,251. The stock has a market capitalization of $4,890.00, a price-to-earnings ratio of 94.55 and a beta of 1.08. Pegasystems has a 12-month low of $40.75 and a 12-month high of $64.85.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. Pegasystems had a net margin of 3.92% and a return on equity of 9.68%. The company had revenue of $239.54 million for the quarter, compared to analyst estimates of $208.48 million. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. equities research analysts anticipate that Pegasystems will post 0.72 earnings per share for the current fiscal year.
In other Pegasystems news, CFO Kenneth Stillwell sold 3,796 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $51.52, for a total value of $195,569.92. Following the completion of the transaction, the chief financial officer now owns 3,372 shares in the company, valued at $173,725.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven F. Kaplan sold 8,585 shares of the company’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $62.31, for a total transaction of $534,931.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,329 shares of company stock valued at $1,526,648. Insiders own 53.61% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Pegasystems by 1.3% in the fourth quarter. BlackRock Inc. now owns 2,384,036 shares of the technology company’s stock worth $112,406,000 after acquiring an additional 29,884 shares during the period. Eagle Asset Management Inc. raised its position in shares of Pegasystems by 8.0% in the fourth quarter. Eagle Asset Management Inc. now owns 1,174,179 shares of the technology company’s stock worth $55,454,000 after acquiring an additional 87,175 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of Pegasystems in the fourth quarter worth about $48,796,000. Standard Life Aberdeen plc raised its position in shares of Pegasystems by 31.6% in the fourth quarter. Standard Life Aberdeen plc now owns 993,088 shares of the technology company’s stock worth $46,849,000 after acquiring an additional 238,314 shares during the period. Finally, Ranger Investment Management L.P. raised its position in shares of Pegasystems by 26.9% in the fourth quarter. Ranger Investment Management L.P. now owns 965,692 shares of the technology company’s stock worth $45,532,000 after acquiring an additional 204,711 shares during the period. Institutional investors and hedge funds own 47.75% of the company’s stock.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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