Pegasystems (NASDAQ:PEGA) Price Target Raised to $95.00

Pegasystems (NASDAQ:PEGA - Get Free Report) had its target price boosted by equities research analysts at DA Davidson from $90.00 to $95.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. DA Davidson's target price indicates a potential downside of 6.32% from the stock's current price. DA Davidson also issued estimates for Pegasystems' FY2025 earnings at $2.46 EPS.

PEGA has been the subject of a number of other reports. Royal Bank of Canada boosted their price objective on Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. KeyCorp cut their price objective on Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays restated a "positive" rating on shares of Pegasystems in a research report on Thursday, April 24th. JMP Securities reiterated a "market outperform" rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Finally, Rosenblatt Securities dropped their price target on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.00.

Pegasystems Stock Up 1.4%

Shares of Pegasystems stock traded up $1.39 on Tuesday, reaching $101.41. The company's stock had a trading volume of 741,259 shares, compared to its average volume of 761,181. The company has a market capitalization of $8.68 billion, a P/E ratio of 100.41 and a beta of 1.14. Pegasystems has a 52-week low of $55.90 and a 52-week high of $113.67. The stock has a 50-day moving average price of $84.36 and a 200-day moving average price of $88.69.

Insiders Place Their Bets

In other Pegasystems news, insider Rifat Kerim Akgonul sold 2,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was 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 of the company's stock, valued at approximately $4,084,581.50. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Larry Weber sold 1,100 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $91.55, for a total value of $100,705.00. Following the completion of the transaction, the director now directly owns 6,547 shares in the company, valued at approximately $599,377.85. This trade represents a 14.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,087 shares of company stock valued at $10,299,146. Insiders own 49.70% of the company's stock.

Hedge Funds Weigh In On Pegasystems

Large investors have recently modified their holdings of the business. Principal Securities Inc. lifted its stake in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after purchasing an additional 149 shares during the last quarter. CX Institutional acquired a new position in shares of Pegasystems in the 1st quarter valued at $36,000. SBI Securities Co. Ltd. lifted its stake 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 purchasing an additional 320 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake 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 purchasing an additional 201 shares during the last quarter. 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.