Pegasystems' (PEGA) "Equal Weight" Rating Reaffirmed at Barclays

Pegasystems (NASDAQ:PEGA - Get Free Report)'s stock had its "equal weight" rating reiterated by analysts at Barclays in a report issued on Monday,Benzinga reports. They presently have a $50.00 price target on the technology company's stock. Barclays's price objective suggests a potential downside of 4.45% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the company. Wedbush decreased their target price on Pegasystems to $68.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. DA Davidson increased their price objective on Pegasystems from $47.50 to $50.00 and gave the company a "neutral" rating in a research report on Friday, June 20th. Loop Capital upped their target price on Pegasystems from $52.50 to $60.00 and gave the company a "buy" rating in a research note on Monday, June 30th. KeyCorp dropped their price objective on Pegasystems from $59.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen upgraded Pegasystems from a "buy" rating to a "strong-buy" rating in a research note 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.82.

Pegasystems Stock Up 0.2%

Shares of PEGA traded up $0.12 during trading hours on Monday, reaching $52.33. The company's stock had a trading volume of 211,729 shares, compared to its average volume of 1,607,356. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 50.91 and a beta of 1.13. Pegasystems has a 1-year low of $29.69 and a 1-year high of $56.84. The company has a 50 day moving average of $50.64 and a two-hundred day moving average of $45.37.

Insider Transactions at Pegasystems

In other news, Chairman Alan Trefler sold 63,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $48.25, for a total value of $3,039,750.00. Following the completion of the sale, the chairman owned 34,243,120 shares of the company's stock, valued at approximately $1,652,230,540. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Rifat Kerim Akgonul sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $44.33, for a total value of $354,640.00. Following the completion of the transaction, the insider directly owned 105,280 shares in the company, valued at approximately $4,667,062.40. This trade represents a 7.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,530 shares of company stock worth $15,866,676 in the last 90 days. 50.10% of the stock is currently owned by company insiders.

Institutional Trading of Pegasystems

Several hedge funds have recently made changes to their positions in PEGA. Farther Finance Advisors LLC boosted its holdings in shares of Pegasystems by 50.9% in 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 in the last quarter. SG Americas Securities LLC purchased a new position in Pegasystems in the first quarter worth about $761,000. Cetera Investment Advisers boosted its stake in Pegasystems by 20.6% during the 4th quarter. Cetera Investment Advisers now owns 6,756 shares of the technology company's stock valued at $630,000 after purchasing an additional 1,155 shares during the last quarter. Captrust Financial Advisors boosted its stake in Pegasystems by 42.7% during the 4th quarter. Captrust Financial Advisors now owns 5,333 shares of the technology company's stock valued at $497,000 after purchasing an additional 1,596 shares during the last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in Pegasystems during the 4th quarter valued at $220,000. 46.89% of the stock is currently owned by institutional investors.

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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