Pegasystems (NASDAQ:PEGA) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Pegasystems (NASDAQ:PEGA) had its price target raised by analysts at Royal Bank of Canada from $90.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 21.69% from the stock’s current price.

Other research analysts also recently issued reports about the company. Rosenblatt Securities upped their target price on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Wedbush increased their target price on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Citigroup increased their price objective on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Barclays lifted their target price on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.50.

Pegasystems Stock Up 1.6 %

Pegasystems stock opened at $94.50 on Friday. Pegasystems has a 52 week low of $44.07 and a 52 week high of $97.94. The business’s 50-day moving average price is $91.18 and its 200 day moving average price is $75.12. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 68.98 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts expect that Pegasystems will post 1.61 EPS for the current year.

Insider Buying and Selling

In other Pegasystems news, insider Leon Trefler sold 8,288 shares of Pegasystems stock in a transaction on Friday, November 1st. The stock was sold at an average price of $81.23, for a total value of $673,234.24. Following the sale, the insider now owns 37,636 shares in the company, valued at $3,057,172.28. The trade was a 18.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth Stillwell sold 5,792 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.15, for a total value of $458,436.80. Following the completion of the transaction, the chief financial officer now directly owns 17,400 shares in the company, valued at approximately $1,377,210. This trade represents a 24.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,914 shares of company stock worth $2,414,935. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors have recently made changes to their positions in PEGA. True Wealth Design LLC purchased a new position in shares of Pegasystems during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC boosted its position in shares of Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after buying an additional 216 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Pegasystems during the third quarter worth $57,000. Capital Performance Advisors LLP acquired a new stake in shares of Pegasystems in the third quarter valued at $67,000. Finally, Headlands Technologies LLC raised its holdings in shares of Pegasystems by 29.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after buying an additional 260 shares during the period. 46.89% of the stock is currently 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.