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

Pegasystems (NASDAQ:PEGA - Get Free Report) had its target price boosted by stock analysts at Barclays from $50.00 to $58.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Barclays's price target indicates a potential downside of 1.41% from the stock's current price.

A number of other brokerages have also weighed in on PEGA. Royal Bank Of Canada reissued an "outperform" rating and set a $60.00 price objective on shares of Pegasystems in a report on Tuesday, June 3rd. Wedbush lowered their target price on shares of Pegasystems to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 15th. Loop Capital upped their price target on shares of Pegasystems from $52.50 to $60.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. KeyCorp reduced their price target on shares of Pegasystems from $59.00 to $47.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Citigroup restated a "buy" rating and set a $66.00 price target on shares of Pegasystems in a research report on Wednesday, June 25th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $59.80.

Pegasystems Price Performance

Shares of NASDAQ:PEGA traded up $0.75 during trading hours on Wednesday, hitting $58.83. 2,315,628 shares of the company's stock traded hands, compared to its average volume of 1,969,177. Pegasystems has a 1 year low of $29.84 and a 1 year high of $59.85. The business has a fifty day moving average price of $51.29 and a 200-day moving average price of $45.65. The firm has a market capitalization of $10.06 billion, a P/E ratio of 50.50 and a beta of 1.13.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. The company had revenue of $384.51 million during the quarter, compared to the consensus estimate of $345.07 million. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. Pegasystems's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, equities analysts predict that Pegasystems will post 1.89 earnings per share for the current year.

Insider Transactions at Pegasystems

In related news, Chairman Alan Trefler sold 45,000 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $53.34, for a total value of $2,400,300.00. Following the completion of the sale, the chairman directly owned 33,051,692 shares of the company's stock, valued at $1,762,977,251.28. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 1,000 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $49.63, for a total transaction of $49,625.00. The disclosure for this sale can be found here. Insiders sold 243,788 shares of company stock valued at $13,870,048 over the last quarter. 50.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PEGA. CX Institutional acquired a new position in shares of Pegasystems during the first quarter worth about $36,000. SBI Securities Co. Ltd. increased its stake in shares of Pegasystems by 139.7% during the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock worth $38,000 after acquiring an additional 320 shares during the period. UMB Bank n.a. increased its stake in shares of Pegasystems by 159.8% during the second quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock worth $40,000 after acquiring an additional 449 shares during the period. GAMMA Investing LLC increased its stake in shares of Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after acquiring an additional 201 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Pegasystems during the first quarter worth about $57,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.