Pegasystems (NASDAQ:PEGA) Given New $70.00 Price Target at Loop Capital

Pegasystems (NASDAQ:PEGA - Get Free Report) had its price objective boosted by investment analysts at Loop Capital from $60.00 to $70.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Loop Capital's target price would suggest a potential upside of 20.02% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. Citigroup lifted their target price on Pegasystems from $66.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday. Barclays lifted their price objective on Pegasystems from $50.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Rosenblatt Securities lifted their price objective on Pegasystems from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Monday. Wedbush boosted their price target on Pegasystems from $68.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Wall Street Zen upgraded Pegasystems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.91.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded up $0.32 during mid-day trading on Thursday, reaching $58.33. The company had a trading volume of 2,206,758 shares, compared to its average volume of 2,027,890. Pegasystems has a one year low of $29.84 and a one year high of $59.85. The business's 50-day simple moving average is $50.93 and its 200 day simple moving average is $45.52. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 50.10 and a beta of 1.13.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. Pegasystems had a return on equity of 43.72% and a net margin of 13.14%. The firm had revenue of $384.51 million for the quarter, compared to analysts' expectations of $345.07 million. During the same quarter in the previous year, the business posted $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 news, CFO Kenneth Stillwell sold 35,426 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $44.68, for a total transaction of $1,582,833.68. Following the completion of the transaction, the chief financial officer owned 42,990 shares in the company, valued at approximately $1,920,793.20. This represents a 45.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alan Trefler sold 63,000 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $50.52, for a total value of $3,182,760.00. Following the transaction, the chairman owned 34,118,784 shares of the company's stock, valued at $1,723,680,967.68. The trade was a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,214 shares of company stock worth $15,452,882 over the last 90 days. 49.70% of the stock is owned by insiders.

Institutional Trading of Pegasystems

Institutional investors have recently added to or reduced their stakes in the stock. CX Institutional purchased a new stake in Pegasystems during the 1st quarter worth about $36,000. SBI Securities Co. Ltd. raised its holdings in shares of Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after acquiring an additional 320 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Pegasystems by 159.8% in the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock valued at $40,000 after acquiring an additional 449 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after acquiring an additional 201 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Pegasystems in the 1st quarter valued at about $57,000. Hedge funds and other institutional investors own 46.89% of the company's stock.

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.

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