Pegasystems (NASDAQ:PEGA) PT Lowered to $82.00

Pegasystems (NASDAQ:PEGA) had its price objective decreased by Citigroup from $87.00 to $82.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 37.35% from the company’s current price.

Several other research analysts also recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of Pegasystems in a research note on Tuesday, June 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Pegasystems in a research note on Tuesday, April 23rd. Barclays lifted their price objective on Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. JMP Securities reaffirmed a “market perform” rating on shares of Pegasystems in a research note on Wednesday, June 12th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $59.70 on Wednesday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 72.77 and a beta of 1.05. The stock’s 50-day simple moving average is $59.53 and its two-hundred day simple moving average is $57.15. Pegasystems has a 52-week low of $37.66 and a 52-week high of $69.26.

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

Insiders Place Their Bets

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 value of $48,278.40. Following the completion of the sale, the insider now directly owns 39,940 shares in the company, valued at approximately $2,564,148. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 39,940 shares of the company’s stock, valued at approximately $2,564,148. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,504 shares of company stock worth $950,634. 50.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PEGA. Norges Bank acquired a new position in shares of Pegasystems in the fourth quarter valued at about $22,784,000. Vanguard Group Inc. increased its holdings in shares of Pegasystems by 6.6% in the third quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock valued at $217,229,000 after purchasing an additional 310,242 shares during the period. Boston Partners purchased a new stake in shares of Pegasystems in the fourth quarter worth about $11,958,000. Scopia Capital Management LP purchased a new stake in shares of Pegasystems in the third quarter worth about $10,195,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Pegasystems by 77.8% in the first quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after buying an additional 218,599 shares during the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

About Pegasystems

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.