Loop Capital Forecasts Strong Price Appreciation for Pegasystems (NASDAQ:PEGA) Stock

Pegasystems (NASDAQ:PEGA - Get Free Report) had its price objective upped by analysts at Loop Capital from $52.50 to $60.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Loop Capital's price target would indicate a potential upside of 10.84% from the company's previous close.

A number of other equities research analysts also recently weighed in on PEGA. DA Davidson lifted their price target on shares of Pegasystems from $47.50 to $50.00 and gave the stock a "neutral" rating in a research note on Friday, June 20th. JMP Securities lifted their target price on shares of Pegasystems from $55.00 to $62.50 and gave the company a "market outperform" rating in a research report on Tuesday, June 3rd. Wall Street Zen raised shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $56.00 price target on shares of Pegasystems in a research report on Tuesday, June 24th. Finally, KeyCorp cut their price objective on Pegasystems from $59.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.05.

Pegasystems Stock Up 1.5%

Pegasystems stock traded up $0.81 during mid-day trading on Monday, reaching $54.13. The company had a trading volume of 2,106,162 shares, compared to its average volume of 1,561,096. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 52.55 and a beta of 1.12. The company has a 50 day moving average of $48.24 and a 200-day moving average of $44.84. Pegasystems has a 52 week low of $28.31 and a 52 week high of $56.84.

Insider Transactions at Pegasystems

In other news, Chairman Alan Trefler sold 31,500 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $100.83, for a total value of $3,176,145.00. Following the completion of the transaction, the chairman owned 17,027,892 shares of the company's stock, valued at $1,716,922,350.36. The trade was a 0.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Gerard Higgins sold 23,660 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $51.12, for a total value of $1,209,380.90. Following the sale, the insider directly owned 38,026 shares in the company, valued at $1,943,698.99. The trade was a 38.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,530 shares of company stock valued at $15,550,231. Corporate insiders own 50.10% of the company's stock.

Hedge Funds Weigh In On Pegasystems

Several institutional investors have recently modified their holdings of PEGA. Sanctuary Advisors LLC boosted its holdings in shares of Pegasystems by 4.9% in the 4th quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company's stock valued at $435,000 after buying an additional 219 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Pegasystems by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock valued at $372,000 after acquiring an additional 354 shares during the last quarter. Swiss National Bank grew its position in shares of Pegasystems by 1.2% in the 4th quarter. Swiss National Bank now owns 84,000 shares of the technology company's stock valued at $7,829,000 after acquiring an additional 1,000 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Pegasystems by 50.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,889 shares of the technology company's stock worth $204,000 after purchasing an additional 974 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Pegasystems in the 1st quarter valued at about $761,000. 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.