Pegasystems' (PEGA) "Outperform" Rating Reiterated at Royal Bank of Canada

Pegasystems (NASDAQ:PEGA - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $120.00 price objective on the technology company's stock. Royal Bank of Canada's price target indicates a potential upside of 17.12% from the stock's previous close.

Several other equities analysts have also issued reports on PEGA. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Barclays reaffirmed a "positive" rating on shares of Pegasystems in a research report on Thursday, April 24th. KeyCorp lowered their target price on Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JMP Securities upped their target price on Pegasystems from $110.00 to $125.00 and gave the stock a "market outperform" rating in a research report on Tuesday. Finally, Wedbush reaffirmed an "outperform" rating and set a $125.00 target price on shares of Pegasystems in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $106.18.

Pegasystems Stock Up 0.6%

PEGA traded up $0.62 during trading on Tuesday, hitting $102.46. The company's stock had a trading volume of 828,974 shares, compared to its average volume of 763,808. Pegasystems has a twelve month low of $55.90 and a twelve month high of $113.67. The stock's fifty day moving average price is $86.28 and its 200-day moving average price is $89.01. The firm has a market capitalization of $8.77 billion, a P/E ratio of 101.45 and a beta of 1.11.

Insider Buying and Selling

In related news, Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the completion of the sale, the chairman now owns 17,247,614 shares in the company, valued at approximately $1,223,373,261.02. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total value of $144,500.00. Following the sale, the insider now owns 56,534 shares of the company's stock, valued at $4,084,581.50. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,087 shares of company stock worth $10,299,146. 49.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

Institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. grew its holdings in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after buying an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after buying an additional 149 shares in the last quarter. CX Institutional purchased a new stake in shares of Pegasystems during the 1st quarter valued at $36,000. SBI Securities Co. Ltd. increased its position in shares of 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 increased its position 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 during the last quarter. Institutional investors 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.