Pegasystems’ (PEGA) Overweight Rating Reaffirmed at KeyCorp

Pegasystems (NASDAQ:PEGA)‘s stock had its “overweight” rating reissued by research analysts at KeyCorp in a report released on Tuesday,Benzinga reports. They presently have a $118.00 price objective on the technology company’s stock. KeyCorp’s price target points to a potential upside of 27.22% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Citigroup boosted 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 target price on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities upped their price target on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted 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. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.91.

Pegasystems Price Performance

NASDAQ PEGA opened at $92.75 on Tuesday. The company’s 50 day simple moving average is $92.82 and its two-hundred day simple moving average is $76.88. Pegasystems has a 1 year low of $45.36 and a 1 year high of $97.94. The stock has a market capitalization of $7.95 billion, a PE ratio of 67.70 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. On average, research analysts anticipate that Pegasystems will post 1.61 EPS for the current year.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 299 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $96.90, for a total transaction of $28,973.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leon Trefler sold 8,288 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $81.23, for a total value of $673,234.24. Following the completion of the sale, the insider now owns 37,636 shares in the company, valued at $3,057,172.28. This represents a 18.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,914 shares of company stock worth $2,414,935. 50.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Large investors have recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new position in shares of Pegasystems during the second quarter valued at approximately $67,968,000. Dimensional Fund Advisors LP boosted its holdings in Pegasystems by 266.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock valued at $23,641,000 after acquiring an additional 284,095 shares during the period. AQR Capital Management LLC grew its position in Pegasystems by 104.5% in the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock valued at $33,381,000 after acquiring an additional 283,508 shares during the last quarter. Foundry Partners LLC purchased a new stake in Pegasystems in the third quarter worth $9,567,000. Finally, Eagle Asset Management Inc. lifted its position in shares of Pegasystems by 440.5% during the third quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after purchasing an additional 120,090 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.