Barclays Raises Pegasystems (NASDAQ:PEGA) Price Target to $69.00

Pegasystems (NASDAQ:PEGA) had its price objective boosted by equities researchers at Barclays from $66.00 to $69.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective indicates a potential upside of 13.08% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup boosted their target price on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Pegasystems in a report on Wednesday, April 10th. TheStreet upgraded Pegasystems from a “d+” rating to a “c” rating in a research report on Thursday, February 15th. StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, Royal Bank of Canada upped their price target on shares of Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Three 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.com, Pegasystems has an average rating of “Moderate Buy” and a consensus price target of $72.33.

Pegasystems Trading Up 3.3 %

PEGA traded up $1.94 during midday trading on Friday, hitting $61.02. The company’s stock had a trading volume of 99,354 shares, compared to its average volume of 484,172. Pegasystems has a 52-week low of $37.66 and a 52-week high of $69.26. The firm has a 50-day moving average price of $62.90 and a two-hundred day moving average price of $52.99. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.41. The firm has a market cap of $5.12 billion, a P/E ratio of 74.51 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. The company had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a net margin of 5.32% and a return on equity of 53.49%. On average, research analysts anticipate that Pegasystems will post 1.49 earnings per share for the current year.

Insider Activity at Pegasystems

In other news, CFO Kenneth Stillwell sold 20,606 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the transaction, the chief financial officer now directly owns 24,535 shares of the company’s stock, valued at $1,549,875.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Kenneth Stillwell sold 20,606 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the sale, the chief financial officer now directly owns 24,535 shares of the company’s stock, valued at approximately $1,549,875.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 395 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total value of $25,576.25. The disclosure for this sale can be found here. Insiders have sold 43,792 shares of company stock worth $2,781,669 over the last 90 days. 50.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently made changes to their positions in PEGA. Quadrant Capital Group LLC raised its position in shares of Pegasystems by 80.1% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after buying an additional 226 shares during the period. Parkside Financial Bank & Trust increased its stake in Pegasystems by 219.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after purchasing an additional 364 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Pegasystems during the 4th quarter worth $26,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Pegasystems in the 4th quarter valued at about $44,000. Finally, CWM LLC lifted its stake in Pegasystems by 80.1% in the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after buying an additional 516 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

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.