Pegasystems (NASDAQ:PEGA) Given New $115.00 Price Target at Royal Bank of Canada

Pegasystems (NASDAQ:PEGA) had its price objective raised by Royal Bank of Canada from $90.00 to $115.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 22.34% from the company’s previous close.

PEGA has been the subject of a number of other reports. Barclays upped their target price on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Citigroup raised their price objective on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Wedbush increased their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Rosenblatt Securities upped their target price on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Pegasystems Stock Performance

PEGA traded up $1.02 during trading on Friday, reaching $94.00. 127,316 shares of the stock were exchanged, compared to its average volume of 336,669. Pegasystems has a twelve month low of $44.07 and a twelve month high of $97.94. The stock’s 50 day moving average price is $90.89 and its two-hundred day moving average price is $74.86. The stock has a market cap of $8.06 billion, a P/E ratio of 68.61 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. During the same quarter last year, the business earned $0.14 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Pegasystems will post 1.61 earnings per share for the current fiscal year.

Insider Activity

In other Pegasystems news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total transaction of $71,139.20. Following the completion of the sale, the insider now directly owns 36,884 shares of the company’s stock, valued at approximately $3,489,226.40. The trade was a 2.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of Pegasystems stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total value of $43,824.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,162 shares of company stock worth $2,156,374. Company insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds have recently bought and sold shares of PEGA. True Wealth Design LLC bought a new position in shares of Pegasystems during the 3rd quarter worth $27,000. Venturi Wealth Management LLC boosted its holdings in shares of Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after acquiring an additional 216 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Pegasystems in the third quarter valued at $57,000. Capital Performance Advisors LLP bought a new stake in shares of Pegasystems during the 3rd quarter valued at $67,000. Finally, Headlands Technologies LLC lifted its holdings in Pegasystems by 29.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after purchasing an additional 260 shares in the last quarter. 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.