Barclays Cuts Pegasystems (NASDAQ:PEGA) Price Target to $97.00

Pegasystems (NASDAQ:PEGA) had its target price decreased by investment analysts at Barclays from $103.00 to $97.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 16.71% from the stock’s current price.

PEGA has been the subject of several other reports. Citigroup upped their price target on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Wedbush raised their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Rosenblatt Securities raised their target price on Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada upped their price target on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Three equities 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.36.

Pegasystems Price Performance

NASDAQ:PEGA traded down $2.17 during mid-day trading on Friday, reaching $83.12. The stock had a trading volume of 494,930 shares, compared to its average volume of 950,292. Pegasystems has a 12 month low of $54.55 and a 12 month high of $113.67. The stock has a market capitalization of $7.13 billion, a PE ratio of 60.43 and a beta of 1.11. The stock has a 50-day simple moving average of $99.29 and a two-hundred day simple moving average of $83.74.

Pegasystems (NASDAQ:PEGA) last issued its 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 net margin of 8.29% and a return on equity of 37.83%. Equities analysts expect that Pegasystems will post 1.63 EPS for the current year.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 299 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $96.90, for a total transaction of $28,973.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kenneth Stillwell sold 6,200 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $94.67, for a total value of $586,954.00. Following the completion of the sale, the chief financial officer now owns 18,466 shares of the company’s stock, valued at $1,748,176.22. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,003 shares of company stock worth $1,346,086. 50.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Greenwood Capital Associates LLC bought a new stake in Pegasystems in the 3rd quarter worth $436,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Pegasystems by 110.0% during the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock worth $1,842,000 after purchasing an additional 13,200 shares during the period. Foundry Partners LLC purchased a new position in Pegasystems during the 3rd quarter valued at about $9,567,000. Nordea Investment Management AB increased its holdings in Pegasystems by 9.9% during the 4th quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company’s stock valued at $8,353,000 after purchasing an additional 7,947 shares during the period. Finally, Versor Investments LP purchased a new stake in Pegasystems in the 3rd quarter worth approximately $497,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.