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

Pegasystems (NASDAQ:PEGA)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a note issued to investors on Tuesday, Benzinga reports. They currently have a $77.00 price target on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 29.94% from the company’s previous close.

Other research analysts have also issued reports about the company. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Pegasystems in a research report on Friday, April 26th. DA Davidson reaffirmed a “neutral” rating and set a $60.00 target price on shares of Pegasystems in a research report on Monday, March 4th. Barclays lifted their target price on Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $75.00 target price on shares of Pegasystems in a research report on Tuesday, April 23rd. Finally, TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a research report on Thursday, February 15th. Four equities 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 stock. According to MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average price target of $72.33.

Pegasystems Price Performance

NASDAQ:PEGA opened at $59.26 on Tuesday. The business’s 50-day moving average is $60.13 and its two-hundred day moving average is $56.76. Pegasystems has a 12 month low of $37.66 and a 12 month high of $69.26. The firm has a market capitalization of $5.04 billion, a PE ratio of 72.27 and a beta of 1.05.

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

Insider Activity at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the transaction, the insider now directly owns 39,940 shares in the company, valued at $2,564,148. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Pegasystems news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the transaction, the insider now directly owns 39,940 shares in the company, valued at $2,564,148. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $63.70, for a total value of $127,400.00. Following the completion of the transaction, the chief financial officer now owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The disclosure for this sale can be found here. Insiders sold a total of 15,504 shares of company stock valued at $950,634 over the last three months. 50.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after buying an additional 226 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after buying an additional 364 shares during the period. Headlands Technologies LLC acquired a new position in shares of Pegasystems during the fourth quarter worth approximately $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Pegasystems during the fourth quarter worth approximately $44,000. Finally, Covestor Ltd boosted its position in shares of Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after buying an additional 1,065 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

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.