DA Davidson Lowers Pegasystems (NASDAQ:PEGA) Price Target to $70.00

Pegasystems (NASDAQ:PEGA) had its price objective decreased by analysts at DA Davidson from $90.00 to $70.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. DA Davidson’s price objective suggests a potential upside of 0.49% from the stock’s current price.

Several other research firms have also commented on PEGA. Rosenblatt Securities increased their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Citigroup lifted their price target on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their price objective on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Barclays lowered their target price on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Finally, KeyCorp restated an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Trading Up 1.0 %

Shares of PEGA stock opened at $69.66 on Monday. Pegasystems has a 12 month low of $54.55 and a 12 month high of $113.67. The firm has a market capitalization of $5.98 billion, a PE ratio of 68.97 and a beta of 1.22. The firm has a fifty day simple moving average of $76.26 and a two-hundred day simple moving average of $85.42.

Pegasystems (NASDAQ:PEGA) last posted its 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 return on equity of 32.09% and a net margin of 6.63%. On average, equities analysts predict that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Pegasystems

In related news, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the sale, the chairman now owns 17,247,614 shares of the company’s stock, valued at approximately $1,223,373,261.02. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,791 shares of company stock valued at $6,134,554 in the last 90 days. 50.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pegasystems

Several large investors have recently added to or reduced their stakes in PEGA. Principal Securities Inc. boosted its position in shares of Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 worth $30,000 after buying an additional 149 shares during the last quarter. CX Institutional purchased a new stake in shares of Pegasystems during the 1st quarter valued at $36,000. GAMMA Investing LLC lifted its holdings in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after acquiring an additional 201 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Pegasystems in the fourth quarter worth $61,000. 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.