Pegasystems (NASDAQ:PEGA) Price Target Raised to $58.00 at Barclays

Pegasystems (NASDAQ:PEGA - Get Free Report) had its price target upped by stock analysts at Barclays from $50.00 to $58.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the technology company's stock. Barclays's target price suggests a potential downside of 1.27% from the stock's current price.

A number of other equities analysts have also recently commented on PEGA. DA Davidson raised shares of Pegasystems to a "hold" rating in a research report on Tuesday. Wedbush dropped their price target on shares of Pegasystems to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 15th. Rosenblatt Securities boosted their price objective on Pegasystems from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Monday. Loop Capital increased their target price on shares of Pegasystems from $52.50 to $60.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Wall Street Zen upgraded shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.91.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded up $0.67 during mid-day trading on Wednesday, reaching $58.75. The company had a trading volume of 1,641,081 shares, compared to its average volume of 2,033,048. The stock's 50 day moving average is $51.10 and its 200-day moving average is $45.60. Pegasystems has a twelve month low of $29.84 and a twelve month high of $59.85. The stock has a market capitalization of $10.05 billion, a PE ratio of 50.49 and a beta of 1.13.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Pegasystems had a return on equity of 42.42% and a net margin of 13.14%. The company had revenue of $384.51 million for the quarter, compared to analysts' expectations of $345.07 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business's revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Pegasystems will post 1.89 EPS for the current year.

Insider Transactions at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 1,000 shares of Pegasystems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $49.63, for a total value of $49,625.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Gerard Higgins sold 23,660 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $51.12, for a total transaction of $1,209,380.90. Following the completion of the sale, the insider owned 38,026 shares in the company, valued at $1,943,698.99. This represents a 38.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,788 shares of company stock worth $13,870,048. Insiders own 49.70% of the company's stock.

Institutional Trading of Pegasystems

Several institutional investors and hedge funds have recently bought and sold shares of PEGA. Proficio Capital Partners LLC acquired a new position in Pegasystems in the fourth quarter valued at approximately $61,000. Commonwealth Equity Services LLC acquired a new stake in Pegasystems in the fourth quarter valued at approximately $220,000. Xponance Inc. grew its holdings in Pegasystems by 8.6% in the fourth quarter. Xponance Inc. now owns 6,122 shares of the technology company's stock valued at $571,000 after purchasing an additional 487 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Pegasystems in the fourth quarter valued at approximately $1,165,000. Finally, LPL Financial LLC grew its holdings in Pegasystems by 136.4% in the fourth quarter. LPL Financial LLC now owns 10,995 shares of the technology company's stock valued at $1,025,000 after purchasing an additional 6,344 shares during the period. 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.