Citigroup Lowers Pegasystems (NASDAQ:PEGA) Price Target to $70.00

Pegasystems (NASDAQ:PEGA) had its price objective reduced by stock analysts at Citigroup from $75.00 to $70.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price target suggests a potential upside of 63.74% from the company’s current price.

A number of other analysts have also recently commented on PEGA. KeyCorp set a $60.00 price target on Pegasystems in a research report on Thursday, February 5th. Zacks Research upgraded Pegasystems from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Citizens Jmp cut their target price on Pegasystems from $78.00 to $58.00 and set a “market outperform” rating for the company in a research report on Thursday, February 12th. Royal Bank Of Canada set a $65.00 target price on Pegasystems and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Wedbush cut their target price on Pegasystems from $75.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.10.

Pegasystems Stock Up 3.7%

Shares of PEGA opened at $42.75 on Tuesday. The business has a 50-day simple moving average of $42.89 and a two-hundred day simple moving average of $51.95. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 20.02 and a beta of 1.09. Pegasystems has a 52 week low of $32.94 and a 52 week high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $504.32 million during the quarter, compared to analysts’ expectations of $494.60 million. Pegasystems had a return on equity of 38.86% and a net margin of 22.54%.The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. Pegasystems has set its FY 2026 guidance at 2.750-2.750 EPS. On average, equities analysts anticipate that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total transaction of $2,205,900.00. Following the completion of the transaction, the chairman directly owned 44,394,454 shares of the company’s stock, valued at approximately $2,176,216,135.08. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rifat Kerim Akgonul sold 7,594 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $43.39, for a total value of $329,503.66. Following the transaction, the insider directly owned 111,429 shares of the company’s stock, valued at approximately $4,834,904.31. The trade was a 6.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 97,594 shares of company stock worth $4,549,924. Company insiders own 49.70% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEGA. NewEdge Advisors LLC boosted its stake in Pegasystems by 141,900.0% during the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock valued at $296,000 after buying an additional 4,257 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Pegasystems by 450.4% during the first quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock valued at $128,000 after buying an additional 1,509 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Pegasystems by 5.6% during the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after buying an additional 13,075 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Pegasystems by 18.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock valued at $10,830,000 after buying an additional 23,713 shares during the last quarter. Finally, Focus Partners Wealth boosted its stake in Pegasystems by 55.0% during the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock valued at $381,000 after buying an additional 1,943 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.