Pegasystems (NASDAQ:PEGA) Price Target Raised to $69.00

Pegasystems (NASDAQ:PEGA) had its price objective raised by equities research analysts at Barclays from $66.00 to $69.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 13.08% from the stock’s current price.

PEGA has been the subject of a number of other reports. The Goldman Sachs Group upped their target price on shares of Pegasystems from $50.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, February 16th. StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Rosenblatt Securities restated a “buy” rating and issued a $75.00 price objective on shares of Pegasystems in a report on Tuesday. Royal Bank of Canada boosted their price target on shares of Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, DA Davidson reissued a “neutral” rating and set a $60.00 price objective on shares of Pegasystems in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.33.

Pegasystems Trading Up 3.3 %

PEGA traded up $1.94 during midday trading on Friday, reaching $61.02. 99,354 shares of the company’s stock traded hands, compared to its average volume of 484,172. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 74.51 and a beta of 1.06. Pegasystems has a 52 week low of $37.66 and a 52 week high of $69.26. The firm has a fifty day moving average of $62.90 and a two-hundred day moving average of $52.99. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.78 and a quick ratio of 1.78.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.64. Pegasystems had a return on equity of 53.49% and a net margin of 5.32%. The company had revenue of $474.23 million during the quarter, compared to analyst estimates of $428.76 million. On average, equities analysts anticipate that Pegasystems will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $66.43, for a total value of $132,860.00. Following the completion of the sale, the chief financial officer now owns 16,000 shares of the company’s stock, valued at approximately $1,062,880. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $66.43, for a total transaction of $132,860.00. Following the completion of the transaction, the chief financial officer now owns 16,000 shares of the company’s stock, valued at approximately $1,062,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 395 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total value of $25,576.25. The disclosure for this sale can be found here. Insiders have sold a total of 43,792 shares of company stock worth $2,781,669 over the last quarter. 50.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System grew its stake in shares of Pegasystems by 116.8% during the first quarter. New York State Teachers Retirement System now owns 3,786 shares of the technology company’s stock worth $245,000 after purchasing an additional 2,040 shares in the last quarter. Range Financial Group LLC purchased a new stake in shares of Pegasystems in the first quarter valued at about $209,000. FCF Advisors LLC purchased a new position in Pegasystems in the first quarter worth $1,497,000. Los Angeles Capital Management LLC lifted its stake in shares of Pegasystems by 0.6% in the first quarter. Los Angeles Capital Management LLC now owns 327,107 shares of the technology company’s stock valued at $21,144,000 after purchasing an additional 1,979 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in Pegasystems in the fourth quarter valued at about $169,000. 46.89% of the stock is owned by institutional investors and hedge funds.

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.