JMP Securities Reaffirms Market Outperform Rating for Pegasystems (NASDAQ:PEGA)

Pegasystems (NASDAQ:PEGA)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research report issued on Thursday,Benzinga reports. They presently have a $110.00 price objective on the technology company’s stock. JMP Securities’ target price would indicate a potential upside of 29.38% from the company’s current price.

Several other research analysts have also commented on the company. Rosenblatt Securities lifted their target price on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wedbush lifted their target price on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Barclays lifted their target price on Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Pegasystems Stock Down 0.3 %

Shares of NASDAQ PEGA opened at $85.02 on Thursday. Pegasystems has a fifty-two week low of $54.55 and a fifty-two week high of $113.67. The business has a 50 day moving average price of $99.29 and a two-hundred day moving average price of $83.74. The firm has a market cap of $7.29 billion, a PE ratio of 62.06 and a beta of 1.11.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data 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%. On average, analysts anticipate that Pegasystems will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Pegasystems

In other news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $71,139.20. Following the sale, the insider now owns 36,884 shares of the company’s stock, valued at approximately $3,489,226.40. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Efstathios A. Kouninis sold 299 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. Insiders have sold 14,003 shares of company stock valued at $1,346,086 in the last quarter. Corporate insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Principal Securities Inc. lifted its holdings in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Pegasystems in the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its position in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after purchasing an additional 149 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Pegasystems by 49.1% in the 3rd 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 period. Finally, Financial Management Professionals Inc. acquired a new position in shares of Pegasystems in the 3rd quarter valued at $57,000. 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.