DA Davidson Boosts Pegasystems (NASDAQ:PEGA) Price Target to $70.00

Pegasystems (NASDAQ:PEGA) had its price objective raised by DA Davidson from $60.00 to $70.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. DA Davidson’s price objective points to a potential upside of 5.58% from the stock’s previous close.

PEGA has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a research note on Wednesday, June 12th. JMP Securities restated a “market perform” rating on shares of Pegasystems in a report on Wednesday, June 12th. Citigroup cut their target price on shares of Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $75.00 price objective on shares of Pegasystems in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $77.00 price objective on shares of Pegasystems in a research report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.14.

Pegasystems Trading Down 3.8 %

PEGA stock traded down $2.63 during midday trading on Friday, hitting $66.30. The company had a trading volume of 278,958 shares, compared to its average volume of 503,337. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 81.83 and a beta of 1.08. Pegasystems has a 52 week low of $37.66 and a 52 week high of $71.27. The stock’s 50 day moving average price is $59.33 and its 200 day moving average price is $58.68.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million during the quarter, compared to analyst estimates of $323.55 million. Pegasystems had a return on equity of 54.99% and a net margin of 8.72%. Pegasystems’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) EPS. Analysts predict that Pegasystems will post 1.5 earnings per share for the current year.

Insider Activity at Pegasystems

In other news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $60.21, for a total transaction of $45,277.92. Following the transaction, the insider now directly owns 39,164 shares in the company, valued at approximately $2,358,064.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.39, for a total transaction of $120,780.00. Following the sale, the chief financial officer now directly owns 22,884 shares of the company’s stock, valued at $1,381,964.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $60.21, for a total transaction of $45,277.92. Following the transaction, the insider now directly owns 39,164 shares in the company, valued at approximately $2,358,064.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,504 shares of company stock valued at $999,794. Company insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

A number of institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its position in shares of Pegasystems by 80.1% in the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after acquiring an additional 226 shares during the period. Headlands Technologies LLC bought a new position in shares of Pegasystems during the fourth quarter valued at $26,000. Parkside Financial Bank & Trust lifted its position in shares of Pegasystems by 219.3% in 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 period. Harvest Fund Management Co. Ltd acquired a new stake in Pegasystems in the fourth quarter worth $44,000. Finally, Versant Capital Management Inc lifted its stake in shares of Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after buying an additional 756 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

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.