Pegasystems (NASDAQ:PEGA) Price Target Cut to $44.00

Pegasystems (NASDAQ:PEGA) had its price objective decreased by analysts at DA Davidson from $52.00 to $44.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. DA Davidson’s price target indicates a potential upside of 6.46% from the company’s previous close.

PEGA has been the topic of a number of other research reports. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Pegasystems in a research note on Tuesday, August 29th. Citigroup lowered their price target on Pegasystems from $70.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Barclays lowered their price target on Pegasystems from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, October 12th. Wedbush upgraded Pegasystems from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 5th. Finally, BNP Paribas upgraded Pegasystems from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $65.00 in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.80.

Pegasystems Stock Up 1.2 %

Shares of PEGA opened at $41.33 on Friday. Pegasystems has a 52 week low of $31.06 and a 52 week high of $59.23. The company has a quick ratio of 1.60, a current ratio of 1.64 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -84.35 and a beta of 1.05. The stock’s 50-day moving average price is $44.22 and its 200-day moving average price is $46.90.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, July 26th. The technology company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.07). Pegasystems had a positive return on equity of 0.01% and a negative net margin of 2.97%. The company had revenue of $298.27 million during the quarter, compared to analysts’ expectations of $309.61 million. On average, sell-side analysts predict that Pegasystems will post -0.01 EPS for the current year.

Insider Activity

In related news, insider Leon Trefler sold 811 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $52.00, for a total value of $42,172.00. Following the completion of the sale, the insider now owns 26,508 shares of the company’s stock, valued at $1,378,416. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Leon Trefler sold 811 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $52.00, for a total value of $42,172.00. Following the completion of the sale, the insider now owns 26,508 shares of the company’s stock, valued at $1,378,416. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 1,890 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $46.65, for a total value of $88,168.50. Following the completion of the sale, the insider now directly owns 52,921 shares of the company’s stock, valued at approximately $2,468,764.65. The disclosure for this sale can be found here. Insiders have sold a total of 4,164 shares of company stock worth $202,573 over the last quarter. 50.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Pegasystems in the first quarter valued at approximately $45,000. CWM LLC increased its stake in Pegasystems by 80.1% during the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after acquiring an additional 516 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Pegasystems by 502.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,754 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,463 shares during the last quarter. Gyon Technologies Capital Management LP acquired a new stake in Pegasystems during the fourth quarter worth $61,000. Finally, Castleview Partners LLC acquired a new stake in Pegasystems during the first quarter worth $70,000. 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 applications 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 Platform, an intelligent automation software for clients' processes and workflows; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.