Royal Bank of Canada Reaffirms “Outperform” Rating for Pegasystems (NASDAQ:PEGA)

Pegasystems (NASDAQ:PEGAGet Free Report)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a report issued on Tuesday, Benzinga reports. They currently have a $77.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 31.60% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Barclays lifted their price target on shares of Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Citigroup upped their price objective on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Pegasystems in a research note on Tuesday, April 23rd. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a research report on Friday, April 26th. Finally, DA Davidson reissued a “neutral” rating and set a $60.00 price target on shares of Pegasystems in a research report on Monday, March 4th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.33.

View Our Latest Research Report on PEGA

Pegasystems Stock Up 1.4 %

Shares of PEGA stock opened at $58.51 on Tuesday. The company has a 50 day moving average price of $60.26 and a 200-day moving average price of $56.70. Pegasystems has a 52 week low of $37.66 and a 52 week high of $69.26. The firm has a market capitalization of $4.98 billion, a PE ratio of 71.35 and a beta of 1.05.

Pegasystems (NASDAQ:PEGAGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The company had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. Analysts anticipate that Pegasystems will post 1.5 earnings per share for the current year.

Insider Activity

In other news, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $60.34, for a total transaction of $45,375.68. Following the transaction, the insider now owns 39,188 shares in the company, valued at approximately $2,364,603.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Pegasystems news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $60.34, for a total value of $45,375.68. Following the transaction, the insider now owns 39,188 shares in the company, valued at approximately $2,364,603.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $60.88, for a total value of $608,800.00. Following the completion of the transaction, the director now owns 369,658 shares in the company, valued at approximately $22,504,779.04. The disclosure for this sale can be found here. Insiders have sold 15,504 shares of company stock worth $950,634 in the last quarter. Corporate insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position in shares of Pegasystems by 80.1% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after purchasing an additional 226 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Pegasystems by 219.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Pegasystems during the 4th quarter worth about $26,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Pegasystems during the 4th quarter worth about $44,000. Finally, Covestor Ltd increased its position in shares of Pegasystems by 633.9% during the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,065 shares during the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

About Pegasystems

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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.

Further Reading

Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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