Citigroup Lowers Pegasystems (NASDAQ:PEGA) Price Target to $107.00

Pegasystems (NASDAQ:PEGA) had its price target decreased by equities researchers at Citigroup from $119.00 to $107.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price points to a potential upside of 20.84% from the stock’s previous close.

Several other research firms have also commented on PEGA. Royal Bank of Canada increased their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Loop Capital dropped their price target on Pegasystems from $115.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Rosenblatt Securities decreased their price objective on Pegasystems from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday. DA Davidson cut their target price on Pegasystems from $90.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.64.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $88.55 on Tuesday. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 87.67 and a beta of 1.22. The firm has a fifty day moving average price of $73.03 and a 200 day moving average price of $85.32. Pegasystems has a fifty-two week low of $54.55 and a fifty-two week high of $113.67.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS 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%. As a group, research analysts predict that Pegasystems will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total value of $211,260.00. Following the transaction, the chief financial officer now owns 14,466 shares of the company’s stock, valued at $1,528,043.58. The trade was a 12.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the transaction, the chairman now directly owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,291 shares of company stock valued at $8,289,469. Company insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Securities Inc. boosted its holdings in shares of Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares during the period. CX Institutional purchased a new stake in Pegasystems during the 1st quarter worth about $36,000. GAMMA Investing LLC raised its holdings in Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after acquiring an additional 201 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock valued at $74,000 after purchasing an additional 256 shares in the last quarter. 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.