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

Pegasystems (NASDAQ:PEGA) had its price target reduced by equities research analysts at Barclays from $97.00 to $84.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 22.16% from the stock’s current price.

Several other brokerages have also recently issued reports on PEGA. DA Davidson reduced their price objective on Pegasystems from $90.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. JMP Securities restated a “market outperform” rating and issued a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Rosenblatt Securities boosted their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada raised their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, KeyCorp lowered their target price on Pegasystems from $118.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.82.

Pegasystems Stock Performance

Shares of Pegasystems stock opened at $68.76 on Monday. Pegasystems has a 1 year low of $54.55 and a 1 year high of $113.67. The firm’s 50-day simple moving average is $72.95 and its 200-day simple moving average is $85.30. The firm has a market cap of $5.91 billion, a PE ratio of 68.08 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, equities analysts predict that Pegasystems will post 1.89 earnings per share for the current year.

Insider Transactions at Pegasystems

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the transaction, the chairman now owns 17,308,786 shares of the company’s stock, valued at approximately $1,339,353,860.68. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 7,742 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $84.72, for a total transaction of $655,902.24. Following the sale, the chief financial officer now owns 14,466 shares in the company, valued at $1,225,559.52. This trade represents a 34.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,291 shares of company stock worth $8,289,469. Company insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in Pegasystems in the first quarter worth approximately $207,000. FNY Investment Advisers LLC acquired a new stake in shares of Pegasystems in the first quarter valued at $175,000. Wealth Enhancement Advisory Services LLC boosted its stake in Pegasystems by 50.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,723 shares of the technology company’s stock valued at $1,163,000 after buying an additional 5,625 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in Pegasystems by 87.9% during the first quarter. Greenwood Capital Associates LLC now owns 10,428 shares of the technology company’s stock worth $725,000 after acquiring an additional 4,877 shares during the period. Finally, CX Institutional acquired a new position in Pegasystems during the first quarter worth about $36,000. Institutional investors and hedge funds 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.