Barclays Issues Positive Forecast for Pegasystems (NASDAQ:PEGA) Stock Price

Pegasystems (NASDAQ:PEGA) had its price objective increased by investment analysts at Barclays from $82.00 to $103.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target indicates a potential downside of 3.61% from the company’s current price.

Other equities research analysts have also issued reports about the company. KeyCorp reiterated an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a report on Tuesday, January 14th. Wedbush lifted their target price on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities increased their target price on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Citigroup boosted their price target on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.82.

Pegasystems Trading Up 0.3 %

Shares of NASDAQ:PEGA opened at $106.86 on Friday. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 78.00 and a beta of 1.09. Pegasystems has a 1 year low of $47.82 and a 1 year high of $113.67. The business has a fifty day simple moving average of $97.09 and a 200 day simple moving average of $80.62.

Insider Activity

In other Pegasystems news, CAO Efstathios A. Kouninis sold 299 shares of the company’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 6,200 shares of Pegasystems stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $94.67, for a total value of $586,954.00. Following the sale, the chief financial officer now directly owns 18,466 shares in the company, valued at $1,748,176.22. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,531 shares of company stock valued at $1,178,650. 50.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Principal Securities Inc. increased its holdings in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after buying an additional 167 shares during the period. True Wealth Design LLC acquired a new stake in shares of Pegasystems during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC increased its stake 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 acquiring an additional 216 shares during the period. Financial Management Professionals Inc. acquired a new position in Pegasystems in the third quarter worth about $57,000. Finally, Capital Performance Advisors LLP bought a new position in Pegasystems during the third quarter worth about $67,000. 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.