Rosenblatt Securities Increases Pegasystems (NASDAQ:PEGA) Price Target to $95.00

Pegasystems (NASDAQ:PEGA) had its price target increased by research analysts at Rosenblatt Securities from $90.00 to $95.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 18.81% from the stock’s previous close.

Several other equities research analysts also recently issued reports on PEGA. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a report on Monday, July 29th. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Friday. Citigroup upped their price target on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. 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 report on Wednesday, July 31st. Finally, The Goldman Sachs Group upped their target price on Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.10.

Pegasystems Stock Up 14.7 %

Shares of PEGA opened at $79.96 on Friday. The stock has a market capitalization of $6.83 billion, a P/E ratio of 55.15 and a beta of 1.07. Pegasystems has a twelve month low of $37.66 and a twelve month high of $80.12. The company has a 50 day moving average of $69.99 and a 200-day moving average of $64.01.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. During the same quarter in the previous year, the firm earned $0.14 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Pegasystems will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the transaction, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at $54,211.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the transaction, the chief financial officer now owns 17,262 shares of the company’s stock, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 directly owns 752 shares of the company’s stock, valued at approximately $54,211.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,955 shares of company stock valued at $3,136,247 over the last 90 days. 50.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

Several hedge funds have recently modified their holdings of PEGA. Vanguard Group Inc. lifted its holdings in shares of Pegasystems by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock worth $347,067,000 after purchasing an additional 250,273 shares during the period. Pacer Advisors Inc. acquired a new stake in Pegasystems in the 2nd quarter valued at $67,968,000. Luxor Capital Group LP increased its position in shares of Pegasystems by 7.9% during the second quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock worth $41,399,000 after acquiring an additional 49,861 shares in the last quarter. AQR Capital Management LLC increased its holdings in Pegasystems by 104.5% during the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after purchasing an additional 283,508 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Pegasystems by 6.9% during the second quarter. Acadian Asset Management LLC now owns 533,948 shares of the technology company’s stock worth $32,304,000 after buying an additional 34,416 shares in the last quarter. Institutional investors and hedge funds 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.