Pegasystems (NASDAQ:PEGA) had its target price hoisted by research analysts at JMP Securities from $72.00 to $81.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ target price points to a potential upside of 18.28% from the stock’s current price.
PEGA has been the topic of a number of other reports. Zacks Investment Research upgraded Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price objective on the stock in a report on Tuesday, February 19th. BidaskClub upgraded Pegasystems from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Wedbush reiterated an “outperform” rating and issued a $84.00 price objective (up from $80.00) on shares of Pegasystems in a report on Wednesday, February 27th. UBS Group upped their price objective on Pegasystems to $78.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Benchmark reiterated a “buy” rating and issued a $80.00 price objective (up from $72.00) on shares of Pegasystems in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Pegasystems has an average rating of “Buy” and a consensus target price of $79.20.
Shares of Pegasystems stock traded down $0.50 on Wednesday, hitting $68.48. 22,117 shares of the company were exchanged, compared to its average volume of 371,074. Pegasystems has a 1-year low of $43.21 and a 1-year high of $76.49. The stock has a market cap of $5.75 billion, a P/E ratio of 3,758.50 and a beta of 1.42.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.24). Pegasystems had a net margin of 1.19% and a return on equity of 0.34%. The business had revenue of $212.50 million during the quarter, compared to analyst estimates of $237.63 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s revenue was down 9.7% on a year-over-year basis. As a group, research analysts forecast that Pegasystems will post -0.28 earnings per share for the current fiscal year.
In other Pegasystems news, SVP Leon Trefler sold 1,464 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $73.67, for a total transaction of $107,852.88. Following the transaction, the senior vice president now directly owns 10,555 shares in the company, valued at $777,586.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $73.70, for a total value of $73,700.00. Following the transaction, the chief financial officer now owns 6,369 shares in the company, valued at $469,395.30. The disclosure for this sale can be found here. Insiders have sold 52,403 shares of company stock worth $3,421,274 over the last 90 days. 52.85% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in PEGA. Quantamental Technologies LLC lifted its stake in Pegasystems by 542.2% during the first quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after purchasing an additional 347 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Pegasystems by 46.1% during the fourth quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock worth $37,000 after acquiring an additional 250 shares during the period. Lloyds Banking Group plc purchased a new stake in shares of Pegasystems during the fourth quarter worth $65,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Pegasystems by 22.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock worth $130,000 after acquiring an additional 495 shares during the period. Finally, We Are One Seven LLC purchased a new stake in shares of Pegasystems during the fourth quarter worth $140,000. Institutional investors own 47.86% of the company’s stock.
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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