Pegasystems (NASDAQ:PEGA) Price Target Raised to $131.00

Pegasystems (NASDAQ:PEGA - Get Free Report) had its price objective raised by analysts at Citigroup from $116.00 to $131.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Citigroup's target price would suggest a potential upside of 27.79% from the stock's previous close.

Several other equities research analysts also recently weighed in on PEGA. Loop Capital reaffirmed a "buy" rating and set a $105.00 price target (up from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Wall Street Zen upgraded Pegasystems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price objective on shares of Pegasystems in a research report on Tuesday. Rosenblatt Securities boosted their price objective on shares of Pegasystems from $101.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, JMP Securities raised their target price on shares of Pegasystems from $110.00 to $125.00 and gave the stock a "market outperform" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.18.

Pegasystems Price Performance

Shares of NASDAQ PEGA traded up $0.67 during midday trading on Friday, hitting $102.51. 344,486 shares of the company's stock were exchanged, compared to its average volume of 760,524. The firm's fifty day simple moving average is $85.64 and its 200-day simple moving average is $88.89. The company has a market cap of $8.77 billion, a PE ratio of 101.52 and a beta of 1.11. Pegasystems has a twelve month low of $55.90 and a twelve month high of $113.67.

Insider Transactions at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,000 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $88.66, for a total transaction of $354,640.00. Following the completion of the transaction, the insider now owns 52,640 shares of the company's stock, valued at approximately $4,667,062.40. This trade represents a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $97.48, for a total value of $194,960.00. Following the completion of the transaction, the chief financial officer now directly owns 23,688 shares in the company, valued at $2,309,106.24. This represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,087 shares of company stock worth $10,299,146. 49.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

Institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. grew its position in shares of Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after acquiring an additional 149 shares during the period. CX Institutional purchased a new position in shares of Pegasystems in the first quarter worth $36,000. SBI Securities Co. Ltd. raised its position in Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after purchasing an additional 320 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after purchasing an additional 201 shares in 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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