Pegasystems (NASDAQ:PEGA) had its price target raised by equities researchers at Needham & Company LLC from $169.00 to $180.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective would indicate a potential upside of 49.75% from the stock's current price.
A number of other equities research analysts also recently weighed in on PEGA. Zacks Investment Research downgraded shares of Pegasystems from a "buy" rating to a "hold" rating in a research note on Tuesday. Macquarie lifted their target price on shares of Pegasystems from $151.00 to $164.00 and gave the company an "outperform" rating in a research report on Thursday, February 25th. JMP Securities increased their price target on shares of Pegasystems from $149.00 to $172.00 and gave the stock a "market outperform" rating in a research report on Wednesday. DA Davidson restated a "buy" rating on shares of Pegasystems in a research note on Friday, February 19th. Finally, The Goldman Sachs Group upped their price objective on Pegasystems from $145.00 to $182.00 and gave the company a "buy" rating in a research note on Thursday, February 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of "Buy" and a consensus target price of $150.29.
Pegasystems stock traded down $1.09 during mid-day trading on Wednesday, reaching $120.20. The company had a trading volume of 871 shares, compared to its average volume of 377,346. The company has a 50 day moving average of $122.47 and a 200-day moving average of $129.15. Pegasystems has a 52 week low of $82.12 and a 52 week high of $148.80. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.97. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of -148.39 and a beta of 1.24.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, April 28th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.17. Pegasystems had a negative return on equity of 19.29% and a negative net margin of 6.48%. The firm had revenue of $313.50 million for the quarter, compared to analyst estimates of $307.97 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company's quarterly revenue was up 18.0% compared to the same quarter last year. On average, analysts predict that Pegasystems will post -1.21 earnings per share for the current fiscal year.
In other Pegasystems news, SVP Leon Trefler sold 968 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $118.52, for a total value of $114,727.36. Following the completion of the sale, the senior vice president now directly owns 15,112 shares in the company, valued at $1,791,074.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 5,757 shares of the firm's stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $143.72, for a total value of $827,396.04. Following the sale, the chief financial officer now directly owns 17,268 shares in the company, valued at approximately $2,481,756.96. The disclosure for this sale can be found here. Corporate insiders own 51.89% of the company's stock.
A number of hedge funds have recently made changes to their positions in PEGA. California Public Employees Retirement System increased its position in shares of Pegasystems by 7.6% during the fourth quarter. California Public Employees Retirement System now owns 97,152 shares of the technology company's stock worth $12,946,000 after acquiring an additional 6,888 shares in the last quarter. George Kaiser Family Foundation raised its stake in shares of Pegasystems by 19.1% in the 4th quarter. George Kaiser Family Foundation now owns 44,900 shares of the technology company's stock valued at $5,983,000 after purchasing an additional 7,201 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Pegasystems by 81.8% during the fourth quarter. JPMorgan Chase & Co. now owns 19,827 shares of the technology company's stock worth $2,642,000 after buying an additional 8,922 shares during the period. State of Alaska Department of Revenue acquired a new position in Pegasystems during the fourth quarter valued at approximately $553,000. Finally, Public Employees Retirement System of Ohio boosted its position in Pegasystems by 27.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,688 shares of the technology company's stock valued at $2,624,000 after purchasing an additional 4,223 shares during the last quarter. Hedge funds and other institutional investors own 47.90% of the company's stock.
Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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