Pegasystems (NASDAQ:PEGA) Given New $74.00 Price Target at JPMorgan Chase & Co.

Pegasystems (NASDAQ:PEGA) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $65.00 to $74.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 24.39% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Wall Street Zen cut Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Rosenblatt Securities raised their price target on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Monday. DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and upped their target price for the company from $60.00 to $85.00 in a research report on Wednesday, October 22nd. Finally, Barclays lifted their price target on shares of Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.05.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded up $2.49 during trading on Friday, reaching $59.49. The company had a trading volume of 357,012 shares, compared to its average volume of 1,756,413. Pegasystems has a 52 week low of $29.84 and a 52 week high of $68.10. The business’s 50 day moving average price is $57.73 and its 200-day moving average price is $54.88. The stock has a market cap of $10.10 billion, a PE ratio of 39.76 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The business had revenue of $381.35 million during the quarter, compared to analyst estimates of $351.95 million. During the same quarter last year, the business posted $0.39 earnings per share. Pegasystems’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Pegasystems will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Pegasystems

In related news, insider Leon Trefler sold 14,865 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $63.40, for a total transaction of $942,441.00. Following the completion of the transaction, the insider owned 118,799 shares in the company, valued at approximately $7,531,856.60. The trade was a 11.12% 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 this link. Also, CAO Efstathios A. Kouninis sold 4,425 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $67.25, for a total transaction of $297,581.25. Following the completion of the sale, the chief accounting officer directly owned 206 shares of the company’s stock, valued at $13,853.50. The trade was a 95.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 196,660 shares of company stock worth $11,789,077 over the last ninety days. 49.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. bought a new stake in shares of Pegasystems during the third quarter worth about $28,000. Spire Wealth Management raised its holdings in Pegasystems by 274.2% in the 2nd quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after buying an additional 414 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Pegasystems by 321.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after buying an additional 431 shares during the period. Mather Group LLC. acquired a new stake in Pegasystems during the 3rd quarter worth approximately $33,000. Finally, Blue Trust Inc. grew its holdings in Pegasystems by 902.9% during the 3rd quarter. Blue Trust Inc. now owns 682 shares of the technology company’s stock worth $39,000 after acquiring an additional 614 shares during the last quarter. 46.89% of the stock is currently owned by 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.