Barclays Reiterates Equal Weight Rating for Pegasystems (NASDAQ:PEGA)

Pegasystems (NASDAQ:PEGA)‘s stock had its “equal weight” rating restated by stock analysts at Barclays in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $50.00 target price on the technology company’s stock. Barclays‘s price target would suggest a potential downside of 1.81% from the company’s previous close.

Several other equities analysts have also issued reports on PEGA. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a report on Tuesday, June 3rd. JMP Securities increased their price objective on Pegasystems from $55.00 to $62.50 and gave the company a “market outperform” rating in a report on Tuesday, June 3rd. KeyCorp reduced 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. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, Citigroup reissued a “buy” rating and set a $66.00 price objective on shares of Pegasystems in a report on Wednesday, June 25th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.82.

Pegasystems Stock Performance

PEGA stock opened at $50.92 on Monday. The company has a market cap of $8.72 billion, a P/E ratio of 49.44 and a beta of 1.13. Pegasystems has a fifty-two week low of $29.84 and a fifty-two week high of $56.84. The stock’s 50 day simple moving average is $50.64 and its 200 day simple moving average is $45.37.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm had revenue of $384.51 million during the quarter, compared to the consensus estimate of $345.07 million. Pegasystems had a return on equity of 44.72% and a net margin of 11.98%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. Equities analysts predict that Pegasystems will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Pegasystems

In other news, Chairman Alan Trefler sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $53.34, for a total transaction of $2,400,300.00. Following the transaction, the chairman directly owned 33,051,692 shares of the company’s stock, valued at approximately $1,762,977,251.28. This trade represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Gerard Higgins sold 23,660 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $51.12, for a total value of $1,209,380.90. Following the transaction, the insider directly owned 38,026 shares in the company, valued at $1,943,698.99. This trade represents a 38.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 280,530 shares of company stock valued at $15,512,036. 50.10% of the stock is currently owned by company insiders.

Institutional Trading of Pegasystems

Large investors have recently modified their holdings of the business. CX Institutional bought a new stake in Pegasystems during the 1st quarter valued at approximately $36,000. SBI Securities Co. Ltd. lifted its holdings in shares of Pegasystems by 139.7% during the first 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. UMB Bank n.a. raised its holdings in Pegasystems by 159.8% in the 2nd quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock worth $40,000 after acquiring an additional 449 shares during the last quarter. GAMMA Investing LLC raised its holdings in Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after acquiring an additional 201 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Pegasystems in the 1st quarter worth approximately $57,000. 46.89% of the stock is owned by institutional investors.

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.