Pegasystems (NASDAQ:PEGA) PT Lowered to $66.00

Pegasystems (NASDAQ:PEGA) had its price objective decreased by equities researchers at Barclays from $68.00 to $66.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective indicates a potential upside of 12.40% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their price target on Pegasystems from $50.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Citigroup increased their price target on Pegasystems from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Royal Bank of Canada increased their price target on Pegasystems from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a research note on Wednesday, April 10th. Finally, DA Davidson restated a “neutral” rating and issued a $60.00 price target on shares of Pegasystems in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pegasystems has a consensus rating of “Moderate Buy” and an average price target of $70.56.

Pegasystems Trading Up 0.4 %

Shares of Pegasystems stock opened at $58.72 on Monday. Pegasystems has a 12-month low of $37.66 and a 12-month high of $69.26. The stock has a market cap of $4.93 billion, a P/E ratio of 82.71 and a beta of 1.06. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average is $62.03 and its 200-day moving average is $52.37.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.64. Pegasystems had a return on equity of 39.30% and a net margin of 4.73%. The company had revenue of $474.23 million for the quarter, compared to analysts’ expectations of $428.76 million. Equities research analysts predict that Pegasystems will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the completion of the sale, the chief financial officer now directly owns 24,535 shares in the company, valued at $1,549,875.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pegasystems news, insider Leon Trefler sold 1,504 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $63.80, for a total value of $95,955.20. Following the completion of the sale, the insider now owns 35,533 shares of the company’s stock, valued at $2,267,005.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 20,606 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.17, for a total value of $1,301,681.02. Following the completion of the sale, the chief financial officer now directly owns 24,535 shares of the company’s stock, valued at approximately $1,549,875.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,792 shares of company stock worth $2,781,669. 50.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds have recently added to or reduced their stakes in the company. Range Financial Group LLC acquired a new stake in Pegasystems in the first quarter valued at approximately $209,000. FCF Advisors LLC purchased a new position in shares of Pegasystems during the first quarter valued at approximately $1,497,000. Los Angeles Capital Management LLC boosted its position in shares of Pegasystems by 0.6% during the first quarter. Los Angeles Capital Management LLC now owns 327,107 shares of the technology company’s stock valued at $21,144,000 after buying an additional 1,979 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Pegasystems during the fourth quarter valued at approximately $169,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Pegasystems during the fourth quarter valued at approximately $346,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.