Barclays Cuts Pegasystems (NASDAQ:PEGA) Price Target to $84.00

Pegasystems (NASDAQ:PEGA) had its price target cut by investment analysts at Barclays from $97.00 to $84.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price points to a potential upside of 25.77% from the stock’s previous close.

PEGA has been the topic of several other reports. Royal Bank of Canada lifted their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Rosenblatt Securities raised their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. DA Davidson reduced their price target on shares of Pegasystems from $90.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, KeyCorp lowered their price objective on shares of Pegasystems from $118.00 to $94.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Pegasystems has a consensus rating of “Moderate Buy” and a consensus target price of $96.09.

Pegasystems Stock Down 2.3 %

NASDAQ:PEGA traded down $1.55 during trading hours on Monday, reaching $66.79. 84,119 shares of the company’s stock were exchanged, compared to its average volume of 665,715. The company has a market capitalization of $5.74 billion, a P/E ratio of 66.26 and a beta of 1.22. Pegasystems has a 12 month low of $54.55 and a 12 month high of $113.67. The business’s 50-day simple moving average is $74.08 and its two-hundred day simple moving average is $85.45.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) 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, sell-side analysts anticipate that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $70.93, for a total value of $2,234,295.00. Following the transaction, the chairman now directly owns 17,247,614 shares of the company’s stock, valued at $1,223,373,261.02. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 7,742 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $84.72, for a total value of $655,902.24. Following the completion of the sale, the chief financial officer now directly owns 14,466 shares of the company’s stock, valued at $1,225,559.52. This represents a 34.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,791 shares of company stock valued at $6,134,554. Insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Treasurer of the State of North Carolina raised its holdings in Pegasystems by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company’s stock valued at $1,826,000 after acquiring an additional 120 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Pegasystems by 2.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company’s stock worth $548,000 after purchasing an additional 139 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Pegasystems by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company’s stock worth $783,000 after buying an additional 141 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares during the period. Finally, Arizona State Retirement System raised its position in Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company’s stock worth $1,155,000 after purchasing an additional 152 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.