JMP Securities Forecasts Strong Price Appreciation for Pegasystems (NASDAQ:PEGA) Stock

Pegasystems (NASDAQ:PEGA - Get Free Report) had its target price boosted by stock analysts at JMP Securities from $110.00 to $125.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the technology company's stock. JMP Securities' price target points to a potential upside of 23.26% from the company's current price.

PEGA has been the topic of several other research reports. Wedbush restated an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a report on Tuesday. DA Davidson increased their price objective on Pegasystems from $90.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday. Loop Capital reiterated a "buy" rating and issued a $105.00 price objective (up previously from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Citigroup decreased their target price on Pegasystems from $119.00 to $107.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada upped their target price on Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Three research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $104.00.

Pegasystems Stock Up 1.4%

NASDAQ PEGA traded up $1.39 during trading hours on Tuesday, hitting $101.41. 741,259 shares of the company were exchanged, compared to its average volume of 761,181. The company has a 50 day moving average of $84.36 and a two-hundred day moving average of $88.69. Pegasystems has a 52-week low of $55.90 and a 52-week high of $113.67. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 100.41 and a beta of 1.14.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total value of $144,500.00. Following the completion of the transaction, the insider now directly owns 56,534 shares of the company's stock, valued at $4,084,581.50. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $68.41, for a total value of $2,154,915.00. Following the completion of the transaction, the chairman now directly owns 17,184,614 shares of the company's stock, valued at $1,175,599,443.74. The trade was a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,087 shares of company stock worth $10,299,146 over the last three months. 49.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. increased its position in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after buying an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after buying an additional 149 shares in the last quarter. CX Institutional purchased a new position in Pegasystems during the first quarter worth $36,000. SBI Securities Co. Ltd. increased its position in 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 buying an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in 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 buying an additional 201 shares in the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.