Pegasystems (NASDAQ:PEGA) Price Target Raised to $100.00 at Wedbush

Pegasystems (NASDAQ:PEGA) had its price objective hoisted by analysts at Wedbush from $90.00 to $100.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Wedbush’s target price indicates a potential upside of 24.95% from the stock’s current price. Wedbush also issued estimates for Pegasystems’ Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $1.66 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.28 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $2.05 EPS.

Several other equities research analysts also recently weighed in on PEGA. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $84.00 in a report on Thursday, August 1st. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their target price on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Citigroup boosted their price target on Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Barclays increased their price objective on Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.90.

Pegasystems Stock Performance

Shares of NASDAQ PEGA opened at $80.03 on Friday. The stock’s 50-day simple moving average is $70.44 and its 200-day simple moving average is $64.25. The firm has a market capitalization of $6.84 billion, a PE ratio of 55.19 and a beta of 1.07. Pegasystems has a fifty-two week low of $38.94 and a fifty-two week high of $82.22.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. During the same quarter in the previous year, the firm earned $0.14 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Pegasystems will post 1.54 earnings per share for the current fiscal year.

Insider Activity at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the completion of the transaction, the insider now owns 46,505 shares in the company, valued at approximately $3,274,417.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total transaction of $70,410.00. Following the transaction, the insider now directly owns 46,505 shares in the company, valued at approximately $3,274,417.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard H. Jones sold 15,271 shares of Pegasystems stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the sale, the director now owns 371,787 shares of the company’s stock, valued at approximately $25,746,249.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,955 shares of company stock worth $3,136,247 over the last three months. 50.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after buying an additional 756 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Pegasystems in the third quarter valued at about $57,000. Headlands Technologies LLC grew its position in shares of Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after purchasing an additional 339 shares during the last quarter. Covestor Ltd increased its stake in shares of Pegasystems by 633.9% during the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Pegasystems during the 2nd quarter worth approximately $104,000. Hedge funds and other 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.