Pegasystems (NASDAQ:PEGA) Given New $50.00 Price Target at DA Davidson

Pegasystems (NASDAQ:PEGA - Get Free Report) had its target price raised by stock analysts at DA Davidson from $47.50 to $50.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. DA Davidson's price target would suggest a potential downside of 49.68% from the stock's current price.

Several other equities research analysts have also weighed in on PEGA. Wall Street Zen upgraded Pegasystems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Loop Capital reissued a "buy" rating and set a $105.00 price objective (up previously from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. Barclays upped their target price on shares of Pegasystems from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Wedbush reissued an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a research report on Tuesday, June 3rd. Finally, KeyCorp cut their price objective on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Pegasystems has a consensus rating of "Moderate Buy" and a consensus price target of $102.09.

Pegasystems Price Performance

PEGA stock traded down $1.71 during trading on Friday, reaching $99.36. The company had a trading volume of 129,297 shares, compared to its average volume of 768,682. Pegasystems has a 52 week low of $56.49 and a 52 week high of $113.67. The business has a 50 day moving average of $92.42 and a 200 day moving average of $89.49. The company has a market cap of $8.50 billion, a P/E ratio of 48.33 and a beta of 1.11.

Insider Activity

In related news, insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $88.66, for a total transaction of $354,640.00. Following the sale, the insider now directly owns 52,640 shares of the company's stock, valued at $4,667,062.40. This trade represents a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.04, for a total transaction of $3,182,760.00. Following the transaction, the chairman now owns 17,059,392 shares in the company, valued at $1,723,680,967.68. This represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,515 shares of company stock worth $12,374,086 over the last 90 days. 49.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in Pegasystems in the 1st quarter worth approximately $1,054,000. Focus Partners Wealth grew its holdings in shares of Pegasystems by 55.0% in the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company's stock worth $381,000 after acquiring an additional 1,943 shares during the period. Bayforest Capital Ltd purchased a new stake in Pegasystems during the first quarter valued at $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Pegasystems by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company's stock valued at $10,830,000 after acquiring an additional 23,713 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Pegasystems by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company's stock worth $17,253,000 after purchasing an additional 13,075 shares during the last quarter. Institutional investors 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.

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