KeyCorp Reaffirms Overweight Rating for Pegasystems (NASDAQ:PEGA)

Pegasystems (NASDAQ:PEGA)‘s stock had its “overweight” rating reissued by KeyCorp in a report released on Tuesday, Marketbeat reports. They currently have a $118.00 target price on the technology company’s stock. KeyCorp’s target price indicates a potential upside of 18.00% from the company’s previous close. KeyCorp also issued estimates for Pegasystems’ Q1 2025 earnings at $0.21 EPS, Q2 2025 earnings at $0.21 EPS and Q3 2025 earnings at $0.11 EPS.

Several other equities research analysts also recently issued reports on the company. Wedbush boosted their price objective on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Rosenblatt Securities boosted their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barclays raised their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Finally, 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. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.91.

Pegasystems Price Performance

Shares of PEGA stock opened at $100.00 on Tuesday. Pegasystems has a 1-year low of $45.36 and a 1-year high of $100.23. The firm has a market cap of $8.58 billion, a PE ratio of 72.99 and a beta of 1.09. The company has a 50-day moving average of $93.01 and a two-hundred day moving average of $77.12.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million during 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 quarter last year, the company posted $0.14 EPS. Sell-side analysts anticipate that Pegasystems will post 1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the sale, the chief financial officer now directly owns 16,466 shares in the company, valued at $1,547,804. This trade represents a 10.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 528 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were 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. Insiders sold 27,914 shares of company stock valued at $2,414,935 in the last ninety days. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Hedge funds have recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of Pegasystems in the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC increased its position in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after buying an additional 216 shares during the period. Financial Management Professionals Inc. purchased a new stake in Pegasystems in the third quarter valued at approximately $57,000. Capital Performance Advisors LLP acquired a new stake in shares of Pegasystems in the third quarter valued at approximately $67,000. Finally, Headlands Technologies LLC grew its position in shares of Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after acquiring an additional 260 shares during the last quarter. 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.