Pegasystems (NASDAQ:PEGA) Stock Price Expected to Rise, Barclays Analyst Says

Pegasystems (NASDAQ:PEGA) had its price objective boosted by Barclays from $82.00 to $103.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective points to a potential downside of 4.89% from the company’s previous close.

A number of other analysts have also weighed in on PEGA. Citigroup upped their price target on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wedbush increased their price target on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. KeyCorp reiterated an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada lifted their target price on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.82.

Pegasystems Stock Up 1.3 %

Shares of NASDAQ PEGA opened at $108.29 on Friday. The stock has a market cap of $9.29 billion, a P/E ratio of 79.04 and a beta of 1.09. The firm’s 50-day simple moving average is $97.77 and its 200 day simple moving average is $81.13. Pegasystems has a fifty-two week low of $47.82 and a fifty-two week high of $113.67.

Insider Activity

In other news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $189,200.00. Following the transaction, the chief financial officer now owns 15,400 shares in the company, valued at $1,456,840. This represents a 11.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $93.83, for a total transaction of $70,560.16. Following the sale, the insider now owns 37,973 shares of the company’s stock, valued at approximately $3,563,006.59. This represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,531 shares of company stock worth $1,178,650 over the last quarter. Corporate insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its stake in shares of Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after acquiring an additional 256 shares during the last quarter. New York State Common Retirement Fund grew its stake in Pegasystems by 48.8% in the fourth quarter. New York State Common Retirement Fund now owns 137,966 shares of the technology company’s stock valued at $12,858,000 after purchasing an additional 45,233 shares in the last quarter. Kestra Investment Management LLC increased its position in Pegasystems by 32.8% in the 4th quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company’s stock worth $1,513,000 after purchasing an additional 4,011 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Pegasystems by 12.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 102,730 shares of the technology company’s stock worth $9,574,000 after purchasing an additional 11,225 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Pegasystems during the 4th quarter valued at about $242,000. 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.