Pegasystems (NASDAQ:PEGA) had its price target boosted by Benchmark from $67.00 to $72.00 in a research report issued on Monday. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s target price indicates a potential upside of 15.94% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Pegasystems from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub upgraded shares of Pegasystems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 28th. TheStreet downgraded shares of Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, November 22nd. Wedbush reiterated an “outperform” rating and set a $73.00 target price (up previously from $66.00) on shares of Pegasystems in a research note on Thursday, March 1st. Finally, UBS Group reiterated an “overweight” rating and set a $65.00 target price on shares of Pegasystems in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.67.
Shares of Pegasystems (NASDAQ PEGA) traded down $0.75 during mid-day trading on Monday, hitting $62.10. The company’s stock had a trading volume of 371,894 shares, compared to its average volume of 528,458. The stock has a market capitalization of $4,840.00, a price-to-earnings ratio of 94.09 and a beta of 1.08. Pegasystems has a 12 month low of $40.75 and a 12 month high of $64.85.
In related news, VP Efstathios A. Kouninis sold 1,700 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.91, for a total value of $106,947.00. Following the completion of the sale, the vice president now owns 1,631 shares in the company, valued at $102,606.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Efstathios A. Kouninis sold 912 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $59.37, for a total transaction of $54,145.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,329 shares of company stock valued at $1,526,648. 53.61% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in PEGA. Carillon Tower Advisers Inc. acquired a new stake in Pegasystems in the fourth quarter valued at about $48,796,000. Eagle Asset Management Inc. increased its holdings in Pegasystems by 44.5% in the third quarter. Eagle Asset Management Inc. now owns 1,087,004 shares of the technology company’s stock valued at $63,752,000 after buying an additional 335,011 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in Pegasystems by 31.6% in the fourth quarter. Standard Life Aberdeen plc now owns 993,088 shares of the technology company’s stock valued at $46,849,000 after buying an additional 238,314 shares in the last quarter. Ranger Investment Management L.P. increased its holdings in Pegasystems by 26.9% in the fourth quarter. Ranger Investment Management L.P. now owns 965,692 shares of the technology company’s stock valued at $45,532,000 after buying an additional 204,711 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Pegasystems by 305.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 195,388 shares of the technology company’s stock valued at $9,213,000 after buying an additional 147,209 shares in the last quarter. Hedge funds and other institutional investors own 47.75% of the company’s stock.
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Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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