Rosenblatt Securities Cuts Pegasystems (NASDAQ:PEGA) Price Target to $95.00

Pegasystems (NASDAQ:PEGA - Get Free Report) had its price objective cut by analysts at Rosenblatt Securities from $115.00 to $95.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Rosenblatt Securities' price objective points to a potential upside of 3.61% from the company's previous close.

PEGA has been the topic of several other research reports. Royal Bank of Canada raised their price target on Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. StockNews.com lowered shares of Pegasystems from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. KeyCorp dropped their price target on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JMP Securities restated a "market outperform" rating and issued a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Finally, Barclays lowered their target price on shares of Pegasystems from $97.00 to $84.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Pegasystems has a consensus rating of "Moderate Buy" and a consensus target price of $100.27.

Pegasystems Price Performance

Shares of PEGA traded up $0.35 on Tuesday, reaching $91.69. 1,276,327 shares of the stock traded hands, compared to its average volume of 690,355. The stock's 50-day moving average price is $73.26 and its 200-day moving average price is $85.68. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 90.78 and a beta of 1.22. Pegasystems has a 12 month low of $55.71 and a 12 month high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, equities research analysts forecast that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 658 shares of Pegasystems stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $89.90, for a total value of $59,154.20. Following the completion of the sale, the chief accounting officer now owns 1,000 shares in the company, valued at $89,900. The trade was a 39.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $72.25, for a total transaction of $144,500.00. Following the transaction, the insider now owns 56,534 shares in the company, valued at $4,084,581.50. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,949 shares of company stock worth $8,703,263. Insiders own 50.10% of the company's stock.

Institutional Investors Weigh In On Pegasystems

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in Pegasystems by 5.3% during the 1st quarter. Amalgamated Bank now owns 3,060 shares of the technology company's stock valued at $213,000 after purchasing an additional 153 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Pegasystems by 2.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,756 shares of the technology company's stock valued at $956,000 after buying an additional 370 shares during the period. Wealthquest Corp bought a new position in shares of Pegasystems during the 1st quarter valued at approximately $173,000. Lecap Asset Management Ltd. purchased a new stake in Pegasystems in the first quarter worth $1,621,000. Finally, Asset Management One Co. Ltd. raised its stake in Pegasystems by 70.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 1,433 shares of the technology company's stock valued at $100,000 after acquiring an additional 591 shares during the period. Institutional investors and hedge funds 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.