Rosenblatt Securities Forecasts Strong Price Appreciation for Pegasystems (NASDAQ:PEGA) Stock

Pegasystems (NASDAQ:PEGA) had its price target hoisted by analysts at Rosenblatt Securities from $95.00 to $115.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 9.74% from the stock’s current price.

A number of other brokerages have also recently commented on PEGA. KeyCorp reissued an “overweight” rating and issued a $118.00 price objective on shares of Pegasystems in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Citigroup upped their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their target price on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Barclays upped their target price on shares of Pegasystems from $82.00 to $103.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.64.

Pegasystems Stock Down 0.6 %

NASDAQ:PEGA opened at $104.79 on Tuesday. Pegasystems has a fifty-two week low of $47.82 and a fifty-two week high of $113.67. The stock has a market cap of $8.99 billion, a PE ratio of 76.49 and a beta of 1.11. The firm’s fifty day simple moving average is $98.97 and its 200-day simple moving average is $83.06.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 299 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $96.90, for a total value of $28,973.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $94.60, for a total transaction of $71,139.20. Following the completion of the transaction, the insider now owns 36,884 shares in the company, valued at $3,489,226.40. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,003 shares of company stock worth $1,346,086 in the last three months. Company insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Large investors have recently bought and sold shares of the company. Greenwood Capital Associates LLC acquired a new stake in Pegasystems in the third quarter valued at approximately $436,000. Crossmark Global Holdings Inc. grew its position in 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 acquiring an additional 13,200 shares in the last quarter. Foundry Partners LLC acquired a new stake in Pegasystems in the third quarter valued at approximately $9,567,000. Nordea Investment Management AB grew its position in Pegasystems by 9.9% in the fourth 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. Finally, Versor Investments LP acquired a new stake in Pegasystems in the third quarter valued at approximately $497,000. 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.