Rosenblatt Securities Boosts Pegasystems (NASDAQ:PEGA) Price Target to $115.00

Pegasystems (NASDAQ:PEGA) had its price objective lifted by research analysts at Rosenblatt Securities from $95.00 to $115.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ target price suggests a potential upside of 8.40% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. KeyCorp restated an “overweight” rating and set a $118.00 price objective on shares of Pegasystems in a report on Tuesday, January 14th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Barclays increased their price objective on Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup raised their price target on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and an average price target of $97.64.

Pegasystems Price Performance

Shares of PEGA stock opened at $106.09 on Tuesday. The company has a fifty day moving average price of $99.33 and a two-hundred day moving average price of $83.57. Pegasystems has a one year low of $47.82 and a one year high of $113.67. The stock has a market cap of $9.10 billion, a P/E ratio of 77.44 and a beta of 1.11.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. As a group, equities research analysts anticipate that Pegasystems will post 1.63 EPS for the current fiscal year.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 299 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $105.63, for a total value of $211,260.00. Following the transaction, the chief financial officer now directly owns 14,466 shares of the company’s stock, valued at approximately $1,528,043.58. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,003 shares of company stock valued at $1,346,086 over the last three months. 50.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Pegasystems

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEGA. Principal Securities Inc. grew its stake in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after buying an additional 167 shares during the last quarter. True Wealth Design LLC bought a new stake in Pegasystems during the 3rd quarter worth $27,000. EverSource Wealth Advisors LLC increased its holdings in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after purchasing an additional 149 shares in the last quarter. Venturi Wealth Management LLC raised its position in Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after purchasing an additional 216 shares during the last quarter. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Pegasystems during the third quarter valued at about $57,000. 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.