Pegasystems (NASDAQ:PEGA) Price Target Cut to $70.00 by Analysts at DA Davidson

Pegasystems (NASDAQ:PEGA) had its price target cut by research analysts at DA Davidson from $90.00 to $70.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 1.52% from the stock’s current price.

Several other research analysts also recently commented on the company. StockNews.com downgraded Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price objective on shares of Pegasystems in a research report on Thursday, February 13th. Barclays cut their price objective on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Rosenblatt Securities raised their price objective on Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, KeyCorp reissued an “overweight” rating and issued a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Three equities 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 company has an average rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Stock Up 1.1 %

Shares of PEGA traded up $0.72 during midday trading on Monday, reaching $68.95. 253,183 shares of the stock were exchanged, compared to its average volume of 659,900. Pegasystems has a twelve month low of $54.55 and a twelve month high of $113.67. The stock’s 50 day simple moving average is $77.76 and its 200 day simple moving average is $85.55. The company has a market cap of $5.92 billion, a P/E ratio of 68.27 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, analysts predict that Pegasystems will post 1.89 earnings per share for the current year.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the completion of the sale, the chief financial officer now owns 14,466 shares of the company’s stock, valued at $1,528,043.58. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the completion of the sale, the chairman now directly owns 17,308,786 shares in the company, valued at approximately $1,339,353,860.68. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,791 shares of company stock valued at $6,134,554. 50.10% of the stock is currently owned by insiders.

Institutional Trading of Pegasystems

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. increased its holdings in shares of Pegasystems by 189.0% in the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company’s stock valued at $220,347,000 after purchasing an additional 1,546,281 shares during the period. Dimensional Fund Advisors LP increased its holdings in Pegasystems by 23.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 860,361 shares of the technology company’s stock valued at $80,188,000 after acquiring an additional 164,986 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Pegasystems by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 825,762 shares of the technology company’s stock worth $76,983,000 after acquiring an additional 6,480 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Pegasystems by 0.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 807,671 shares of the technology company’s stock worth $75,275,000 after purchasing an additional 4,989 shares during the last quarter. Finally, Shannon River Fund Management LLC boosted its stake in Pegasystems by 1.3% in the 4th quarter. Shannon River Fund Management LLC now owns 798,356 shares of the technology company’s stock worth $74,407,000 after buying an additional 9,989 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.