Pegasystems (NASDAQ:PEGA) Given New $123.00 Price Target at Citigroup

Pegasystems (NASDAQ:PEGAGet Free Report) had its price target boosted by research analysts at Citigroup from $99.00 to $123.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective suggests a potential upside of 27.55% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Barclays lifted their price target on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Rosenblatt Securities boosted their target price on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Wedbush upped their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and an average price target of $89.00.

Check Out Our Latest Stock Report on PEGA

Pegasystems Price Performance

Pegasystems stock traded down $0.23 during trading hours on Wednesday, hitting $96.43. The company had a trading volume of 29,036 shares, compared to its average volume of 535,867. Pegasystems has a fifty-two week low of $44.07 and a fifty-two week high of $97.94. The firm has a market capitalization of $8.27 billion, a P/E ratio of 70.39 and a beta of 1.09. The firm’s fifty day moving average is $85.88 and its 200-day moving average is $72.04.

Pegasystems (NASDAQ:PEGAGet Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) 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 business had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same period last year, the company earned $0.14 earnings per share. Pegasystems’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that Pegasystems will post 1.61 earnings per share for the current year.

Insider Buying and Selling at Pegasystems

In related news, CFO Kenneth Stillwell sold 6,200 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $94.67, for a total value of $586,954.00. Following the completion of the sale, the chief financial officer now owns 18,466 shares in the company, valued at approximately $1,748,176.22. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 299 shares of Pegasystems stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. Insiders have sold 26,914 shares of company stock valued at $2,283,688 in the last 90 days. 50.10% of the stock is currently owned by insiders.

Institutional Trading of Pegasystems

A number of hedge funds have recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Pegasystems during the third quarter valued at approximately $27,000. Venturi Wealth Management LLC increased its holdings in Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after buying an additional 216 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of Pegasystems in the 3rd quarter valued at $57,000. Capital Performance Advisors LLP bought a new position in shares of Pegasystems during the 3rd quarter worth about $67,000. Finally, Headlands Technologies LLC boosted its position in shares of Pegasystems by 29.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

About Pegasystems

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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.

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