Pegasystems (NASDAQ:PEGA) Price Target Raised to $100.00 at Barclays

Pegasystems (NASDAQ:PEGA) had its price objective boosted by stock analysts at Barclays from $96.00 to $100.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target indicates a potential downside of 1.81% from the company’s current price.

Other research analysts have also recently issued research reports about the company. JMP Securities increased their target price on Pegasystems from $110.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Pegasystems in a report on Tuesday. Loop Capital restated a “buy” rating and issued a $105.00 target price (up previously from $85.00) on shares of Pegasystems in a research report on Thursday, April 24th. Citigroup cut their target price on Pegasystems from $119.00 to $107.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, DA Davidson lifted their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

Pegasystems Price Performance

PEGA stock opened at $101.84 on Wednesday. The firm has a 50 day simple moving average of $85.64 and a two-hundred day simple moving average of $88.89. The stock has a market cap of $8.72 billion, a PE ratio of 100.83 and a beta of 1.11. Pegasystems has a one year low of $55.90 and a one year high of $113.67.

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 658 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $89.90, for a total transaction of $59,154.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at approximately $89,900. This represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $68.41, for a total transaction of $2,154,915.00. Following the sale, the chairman now owns 17,184,614 shares of the company’s stock, valued at approximately $1,175,599,443.74. This represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,087 shares of company stock worth $10,299,146. Insiders own 49.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Treasurer of the State of North Carolina lifted its holdings in Pegasystems by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company’s stock worth $1,826,000 after buying an additional 120 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Pegasystems by 2.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company’s stock valued at $548,000 after buying an additional 139 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after acquiring an additional 149 shares in the last quarter. Arizona State Retirement System lifted its stake in Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company’s stock worth $1,155,000 after acquiring an additional 152 shares during the period. Finally, Amalgamated Bank lifted its stake in Pegasystems by 5.3% in the first quarter. Amalgamated Bank now owns 3,060 shares of the technology company’s stock worth $213,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors 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.