Pegasystems (NASDAQ:PEGA) Receives Market Outperform Rating from JMP Securities

Pegasystems (NASDAQ:PEGA)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $110.00 price target on the technology company’s stock. JMP Securities’ price target indicates a potential upside of 25.89% from the company’s previous close.

PEGA has been the topic of a number of other research reports. Barclays increased their price target on Pegasystems from $82.00 to $103.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Rosenblatt Securities boosted their target price on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush boosted their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Citigroup lifted their price target on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Three equities 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.91.

Pegasystems Stock Performance

NASDAQ PEGA traded down $18.71 during trading hours on Thursday, hitting $87.38. 893,125 shares of the company traded hands, compared to its average volume of 875,672. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 63.95 and a beta of 1.11. Pegasystems has a twelve month low of $48.51 and a twelve month high of $113.67. The business’s 50-day moving average is $99.51 and its 200-day moving average is $83.73.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data 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 net margin of 8.29% and a return on equity of 37.83%. Analysts predict that Pegasystems will post 1.63 EPS for the current year.

Insider Activity at Pegasystems

In related news, insider Leon Trefler sold 752 shares of the 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 completion of the sale, the insider now directly owns 37,973 shares of the company’s stock, valued at approximately $3,563,006.59. This trade represents a 1.94 % 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 299 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. Insiders have sold a total of 14,003 shares of company stock valued at $1,346,086 over the last 90 days. Insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Several hedge funds and other institutional investors have recently modified their holdings of the business. Principal Securities Inc. grew its stake in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after purchasing an additional 149 shares in the last quarter. True Wealth Design LLC purchased a new position in Pegasystems during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC lifted its stake in Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in Pegasystems during the third quarter valued at about $57,000. 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.