Pegasystems (NASDAQ:PEGA) Receives Overweight Rating from KeyCorp

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

A number of other equities analysts also recently commented on PEGA. Barclays boosted their target price on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Royal Bank of Canada increased their target price 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. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Wedbush raised their price objective on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Rosenblatt Securities upped their target price on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.91.

Pegasystems Trading Down 2.0 %

Shares of PEGA stock opened at $92.75 on Tuesday. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 67.70 and a beta of 1.09. Pegasystems has a twelve month low of $45.36 and a twelve month high of $97.94. The stock has a fifty day simple moving average of $92.82 and a two-hundred day simple moving average of $76.88.

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

Insider Buying and Selling

In other Pegasystems news, CFO Kenneth Stillwell sold 5,792 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.15, for a total value of $458,436.80. Following the completion of the transaction, the chief financial officer now directly owns 17,400 shares of the company’s stock, valued at approximately $1,377,210. The trade was a 24.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 528 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. 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 company insiders.

Institutional Trading of Pegasystems

Several institutional investors have recently modified their holdings of PEGA. Greenwood Capital Associates LLC acquired a new position in Pegasystems in the 3rd quarter valued at $436,000. Crossmark Global Holdings Inc. raised its position in shares of Pegasystems by 110.0% in the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock valued at $1,842,000 after buying an additional 13,200 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Pegasystems in the third quarter valued at about $9,567,000. Pacer Advisors Inc. acquired a new position in Pegasystems during the second quarter worth about $67,968,000. Finally, Nordea Investment Management AB grew its stake in Pegasystems by 9.9% during the 4th quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company’s stock valued at $8,353,000 after acquiring an additional 7,947 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.