Rosenblatt Securities Boosts Pegasystems (NASDAQ:PEGA) Price Target to $115.00

Pegasystems (NASDAQ:PEGA) had its target price upped by equities research analysts at Rosenblatt Securities from $95.00 to $115.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 8.40% from the stock’s current price.

A number of other research firms have also commented on PEGA. Barclays upped their price objective on shares of Pegasystems from $82.00 to $103.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Wedbush increased their price target on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp restated an “overweight” rating and set a $118.00 target price on shares of Pegasystems in a research report on Tuesday, January 14th. Citigroup raised their target price on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price target on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average target price of $97.64.

Pegasystems Stock Up 2.7 %

Shares of NASDAQ:PEGA opened at $106.09 on Tuesday. The firm has a market cap of $9.10 billion, a P/E ratio of 77.44 and a beta of 1.11. Pegasystems has a 12-month low of $47.82 and a 12-month high of $113.67. The business has a fifty day simple moving average of $99.33 and a 200 day simple moving average of $83.57.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. As a group, equities research analysts expect that Pegasystems will post 1.63 EPS for the current year.

Insider Buying and Selling at Pegasystems

In other news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $71,139.20. Following the transaction, the insider now owns 36,884 shares in the company, valued at $3,489,226.40. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 6,200 shares of Pegasystems stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $94.67, for a total value of $586,954.00. Following the transaction, the chief financial officer now directly owns 18,466 shares in the company, valued at approximately $1,748,176.22. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,003 shares of company stock valued at $1,346,086. Corporate insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Securities Inc. boosted its holdings in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Pegasystems during the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after buying an additional 149 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Pegasystems during the third quarter valued at approximately $57,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.