Pegasystems (PEGA) Given New $81.00 Price Target at JMP Securities

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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.

About Pegasystems

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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