Barclays Raises Pegasystems (NASDAQ:PEGA) Price Target to $82.00

Pegasystems (NASDAQ:PEGA) had its price objective lifted by research analysts at Barclays from $74.00 to $82.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 2.46% from the stock’s previous close.

A number of other analysts have also recently commented on the company. The Goldman Sachs Group boosted their price target on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. DA Davidson increased their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Rosenblatt Securities upped their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday. Finally, JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Stock Up 0.1 %

NASDAQ PEGA opened at $80.03 on Friday. The stock’s 50 day moving average is $70.44 and its 200 day moving average is $64.25. The firm has a market capitalization of $6.84 billion, a PE ratio of 55.19 and a beta of 1.07. Pegasystems has a twelve month low of $38.94 and a twelve month high of $82.22.

Pegasystems (NASDAQ:PEGA) last issued its quarterly 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 net margin of 8.72% and a return on equity of 49.62%. The company had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same period last year, the business earned $0.14 EPS. Pegasystems’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Pegasystems will post 1.54 earnings per share for the current year.

Insider Buying and Selling

In other Pegasystems news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,211.68. Following the completion of the sale, the insider now directly owns 38,412 shares in the company, valued at approximately $2,769,121.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pegasystems news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,211.68. Following the completion of the sale, the insider now directly owns 38,412 shares in the company, valued at $2,769,121.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares in the company, valued at $54,211.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,955 shares of company stock worth $3,136,247. 50.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

Hedge funds have recently modified their holdings of the business. Optimist Retirement Group LLC raised its holdings in Pegasystems by 5.0% in the 2nd quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock worth $208,000 after purchasing an additional 165 shares during the period. New York State Teachers Retirement System lifted its position in shares of Pegasystems by 5.4% during the 3rd quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock valued at $300,000 after buying an additional 211 shares in the last quarter. Headlands Technologies LLC grew its stake 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 during the period. Arizona State Retirement System increased its holdings in Pegasystems by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock worth $711,000 after acquiring an additional 262 shares in the last quarter. Finally, Duality Advisers LP raised its stake in Pegasystems by 2.7% during the 1st quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after acquiring an additional 363 shares during the period. Institutional investors own 46.89% of the company’s stock.

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.