Pegasystems (NASDAQ:PEGA) Price Target Lowered to $97.00 at Barclays

Pegasystems (NASDAQ:PEGA) had its price objective reduced by research analysts at Barclays from $103.00 to $97.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 16.71% from the stock’s current price.

PEGA has been the topic of a number of other research reports. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Pegasystems in a report on Thursday. Wedbush increased their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Rosenblatt Securities boosted their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada raised their target price on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Citigroup boosted their price target on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Pegasystems Trading Down 2.5 %

PEGA stock traded down $2.17 during midday trading on Friday, hitting $83.12. The company’s stock had a trading volume of 494,930 shares, compared to its average volume of 950,292. The firm’s 50-day moving average is $99.29 and its 200-day moving average is $83.74. Pegasystems has a 12 month low of $54.55 and a 12 month high of $113.67. The company has a market cap of $7.13 billion, a PE ratio of 60.43 and a beta of 1.11.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. Analysts expect that Pegasystems will post 1.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $94.60, for a total transaction of $189,200.00. Following the completion of the sale, the chief financial officer now owns 15,400 shares of the company’s stock, valued at approximately $1,456,840. This represents a 11.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leon Trefler sold 752 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total transaction of $70,560.16. Following the completion of the transaction, the insider now owns 37,973 shares of the company’s stock, valued at approximately $3,563,006.59. The trade was a 1.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,003 shares of company stock worth $1,346,086 in the last three months. Corporate insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ellsworth Advisors LLC purchased a new position in Pegasystems in the third quarter valued at about $571,000. Inspire Advisors LLC purchased a new position in Pegasystems in the 3rd quarter worth about $229,000. Raymond James & Associates grew its stake in Pegasystems by 166.8% during the 3rd quarter. Raymond James & Associates now owns 70,432 shares of the technology company’s stock valued at $5,148,000 after acquiring an additional 44,035 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Pegasystems by 709.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 97,563 shares of the technology company’s stock valued at $7,131,000 after acquiring an additional 85,505 shares during the last quarter. Finally, Eastern Bank bought a new stake in Pegasystems in the 3rd quarter valued at $146,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

About Pegasystems

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.