Barclays Boosts Pegasystems (NASDAQ:PEGA) Price Target to $74.00

Pegasystems (NASDAQ:PEGA) had its price target boosted by equities research analysts at Barclays from $69.00 to $74.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 10.48% from the company’s previous close.

A number of other equities analysts also recently issued reports on PEGA. Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a research note on Wednesday, June 12th. Royal Bank of Canada raised their target price on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday. Rosenblatt Securities reissued a “buy” rating and set a $75.00 target price on shares of Pegasystems in a report on Tuesday, April 23rd. JMP Securities reissued a “market perform” rating on shares of Pegasystems in a report on Wednesday, June 12th. Finally, DA Davidson lifted their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.86.

Pegasystems Stock Down 2.8 %

Pegasystems stock traded down $1.95 during midday trading on Friday, reaching $66.98. The stock had a trading volume of 362,604 shares, compared to its average volume of 503,922. Pegasystems has a 52-week low of $37.66 and a 52-week high of $71.27. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 81.68 and a beta of 1.08. The company has a fifty day moving average of $59.33 and a 200 day moving average of $58.68.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a net margin of 8.72% and a return on equity of 54.99%. The business had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. During the same period in the prior year, the firm earned ($0.41) EPS. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research analysts predict that Pegasystems will post 1.5 EPS for the current year.

Insider Buying and Selling

In related news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $60.21, for a total transaction of $45,277.92. Following the transaction, the insider now directly owns 39,164 shares in the company, valued at $2,358,064.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pegasystems news, Director Richard H. Jones sold 10,000 shares of Pegasystems stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $60.88, for a total transaction of $608,800.00. Following the transaction, the director now directly owns 369,658 shares of the company’s stock, valued at $22,504,779.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $60.21, for a total transaction of $45,277.92. Following the transaction, the insider now directly owns 39,164 shares in the company, valued at $2,358,064.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,504 shares of company stock worth $999,794. 50.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Pegasystems

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after purchasing an additional 226 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Pegasystems in the 4th quarter valued at approximately $26,000. Parkside Financial Bank & Trust raised its stake in shares of Pegasystems by 219.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after acquiring an additional 364 shares during the period. Versant Capital Management Inc raised its stake in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Pegasystems in the 4th quarter valued at approximately $44,000. 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.