Royal Bank of Canada Reaffirms “Outperform” Rating for Pegasystems (NASDAQ:PEGA)

Pegasystems (NASDAQ:PEGAGet Free Report)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $77.00 target price on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 31.60% from the company’s previous close.

Several other research firms have also issued reports on PEGA. TheStreet upgraded Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. The Goldman Sachs Group upped their target price on Pegasystems from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Citigroup upped their target price on Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $75.00 price target on shares of Pegasystems in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and an average target price of $72.33.

Check Out Our Latest Report on PEGA

Pegasystems Trading Up 1.4 %

PEGA stock opened at $58.51 on Tuesday. The firm has a market cap of $4.98 billion, a PE ratio of 71.35 and a beta of 1.05. The business’s 50-day moving average price is $60.26 and its two-hundred day moving average price is $56.70. Pegasystems has a 1-year low of $37.66 and a 1-year high of $69.26.

Pegasystems (NASDAQ:PEGAGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. On average, analysts forecast that Pegasystems will post 1.5 earnings per share for the current year.

Insider Activity

In related news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the sale, the insider now directly owns 39,940 shares in the company, valued at $2,564,148. The sale was disclosed in a filing with the SEC, which is available at this link. In other Pegasystems news, insider Leon Trefler sold 752 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $64.20, for a total transaction of $48,278.40. Following the completion of the sale, the insider now directly owns 39,940 shares in the company, valued at $2,564,148. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $63.70, for a total value of $127,400.00. Following the sale, the chief financial officer now owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,504 shares of company stock valued at $950,634. 50.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Pegasystems

Large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in shares of 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. Parkside Financial Bank & Trust raised its position in Pegasystems by 219.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Headlands Technologies LLC acquired a new position in Pegasystems during the 4th quarter worth about $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Pegasystems in the 4th quarter valued at about $44,000. Finally, Covestor Ltd increased its stake in shares of Pegasystems by 633.9% in the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after buying an additional 1,065 shares during the period. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Company Profile

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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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