Citigroup Forecasts Strong Price Appreciation for Pegasystems (NASDAQ:PEGA) Stock

Pegasystems (NASDAQ:PEGA) had its price target increased by equities researchers at Citigroup from $73.00 to $75.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price objective indicates a potential upside of 76.47% from the stock’s current price.

Several other research firms have also recently weighed in on PEGA. Zacks Research raised shares of Pegasystems from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Citizens Jmp reduced their price target on shares of Pegasystems from $78.00 to $58.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 12th. KeyCorp set a $60.00 price objective on Pegasystems in a report on Thursday, February 5th. JPMorgan Chase & Co. raised their target price on Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.60.

Pegasystems Trading Down 2.5%

Shares of NASDAQ PEGA opened at $42.50 on Wednesday. The stock has a market cap of $7.18 billion, a PE ratio of 19.91 and a beta of 1.06. Pegasystems has a 12-month low of $29.84 and a 12-month high of $68.10. The company has a 50-day moving average of $47.53 and a 200 day moving average of $54.41.

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

Insider Buying and Selling

In other news, CFO Kenneth Stillwell sold 44,000 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $44.81, for a total transaction of $1,971,640.00. Following the sale, the chief financial officer owned 109,123 shares of the company’s stock, valued at approximately $4,889,801.63. This represents a 28.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction dated 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 sale, the chairman directly owned 44,394,454 shares in the company, valued at $2,176,216,135.08. This represents a 0.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 134,000 shares of company stock worth $6,793,390. 49.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in Pegasystems in the 4th quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Pegasystems during the third quarter worth $28,000. EFG International AG acquired a new stake in shares of Pegasystems in the fourth quarter valued at $32,000. Hantz Financial Services Inc. boosted its holdings in Pegasystems by 321.6% in the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after purchasing an additional 431 shares during the period. Finally, Mather Group LLC. purchased a new position in Pegasystems in the third quarter valued at $33,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Company Profile

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.