Pegasystems (NASDAQ:PEGA) Price Target Raised to $115.00

Pegasystems (NASDAQ:PEGA) had its price target raised by equities researchers at Royal Bank of Canada from $90.00 to $115.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 22.34% from the company’s previous close.

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

Pegasystems Trading Up 1.1 %

NASDAQ PEGA traded up $1.02 during trading on Friday, hitting $94.00. The company had a trading volume of 127,316 shares, compared to its average volume of 336,669. Pegasystems has a one year low of $44.07 and a one year high of $97.94. The company’s fifty day moving average is $90.89 and its 200-day moving average is $74.86. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 68.61 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last announced its earnings results 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 firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same quarter in the prior year, the company earned $0.14 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Pegasystems will post 1.61 EPS for the current year.

Insider Activity

In related news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $94.60, for a total value of $71,139.20. Following the transaction, the insider now owns 36,884 shares of the company’s stock, valued at approximately $3,489,226.40. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 299 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $96.90, for a total transaction of $28,973.10. The disclosure for this sale can be found here. Insiders have sold 25,162 shares of company stock valued at $2,156,374 in the last ninety days. 50.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pegasystems

Institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new position in shares of Pegasystems in the second quarter worth about $67,968,000. Dimensional Fund Advisors LP increased its stake in shares of Pegasystems by 266.8% in the second quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock worth $23,641,000 after purchasing an additional 284,095 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Pegasystems by 104.5% during the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock valued at $33,381,000 after purchasing an additional 283,508 shares during the period. Foundry Partners LLC bought a new position in Pegasystems in the 3rd quarter worth $9,567,000. Finally, Eagle Asset Management Inc. raised its stake in Pegasystems by 440.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock valued at $10,770,000 after purchasing an additional 120,090 shares during the period. 46.89% of the stock is 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.