Pegasystems (NASDAQ:PEGA) Stock Price Expected to Rise, Barclays Analyst Says

Pegasystems (NASDAQ:PEGA) had its price target upped by equities research analysts at Barclays from $50.00 to $58.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price would indicate a potential downside of 0.14% from the stock’s current price.

Several other equities analysts also recently weighed in on PEGA. JMP Securities boosted their target price on Pegasystems from $55.00 to $62.50 and gave the company a “market outperform” rating in a research report on Tuesday, June 3rd. Rosenblatt Securities boosted their price objective on shares of Pegasystems from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a research note on Tuesday, June 3rd. Citigroup reaffirmed a “buy” rating and set a $66.00 price target on shares of Pegasystems in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and an average price target of $57.91.

Pegasystems Stock Up 0.1%

Shares of NASDAQ:PEGA opened at $58.08 on Wednesday. The firm has a fifty day simple moving average of $51.10 and a two-hundred day simple moving average of $45.60. Pegasystems has a 52 week low of $29.84 and a 52 week high of $59.85. The stock has a market capitalization of $9.94 billion, a P/E ratio of 49.85 and a beta of 1.13.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The firm had revenue of $384.51 million during the quarter, compared to the consensus estimate of $345.07 million. During the same quarter last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts expect that Pegasystems will post 1.89 earnings per share for the current year.

Insider Transactions at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 1,196 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $51.50, for a total transaction of $61,594.00. Following the transaction, the chief accounting officer directly owned 332 shares in the company, valued at $17,098. This trade represents a 78.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kenneth Stillwell sold 4,000 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $52.64, for a total value of $210,560.00. Following the completion of the sale, the chief financial officer owned 49,350 shares of the company’s stock, valued at $2,597,784. This represents a 7.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,788 shares of company stock valued at $13,870,048 in the last ninety days. Corporate insiders own 49.70% of the company’s stock.

Institutional Trading of Pegasystems

A number of hedge funds have recently added to or reduced their stakes in the business. CX Institutional purchased a new position in Pegasystems during the 1st quarter valued at about $36,000. SBI Securities Co. Ltd. boosted its stake 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 in the last quarter. UMB Bank n.a. increased its holdings in Pegasystems by 159.8% during the second quarter. UMB Bank n.a. now owns 730 shares of the technology company’s stock valued at $40,000 after buying an additional 449 shares during the period. GAMMA Investing LLC raised its stake in Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after buying an additional 201 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Pegasystems during the first quarter worth $57,000. 46.89% of the stock is owned by hedge funds and other 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.