Pegasystems (NASDAQ:PEGA) had its price target lifted by equities research analysts at Goldman Sachs Group from $105.00 to $119.00 in a research note issued on Monday, The Fly reports. Goldman Sachs Group’s price target suggests a potential upside of 21.98% from the stock’s current price.
A number of other research firms also recently commented on PEGA. BidaskClub downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 9th. ValuEngine raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Tuesday, March 17th. JMP Securities boosted their price objective on shares of Pegasystems from $97.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. DA Davidson boosted their price objective on shares of Pegasystems from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Zacks Investment Research upgraded shares of Pegasystems from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $113.50.
Shares of NASDAQ:PEGA opened at $97.56 on Monday. The company has a market cap of $7.85 billion, a price-to-earnings ratio of -88.69 and a beta of 1.26. The firm’s 50-day simple moving average is $93.76 and its 200-day simple moving average is $84.51. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.98. Pegasystems has a fifty-two week low of $38.01 and a fifty-two week high of $103.13.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $265.59 million for the quarter, compared to the consensus estimate of $255.98 million. Pegasystems had a negative net margin of 9.03% and a negative return on equity of 16.20%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. On average, research analysts forecast that Pegasystems will post -1.01 EPS for the current year.
In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $74.32, for a total value of $148,640.00. Following the completion of the transaction, the chief financial officer now directly owns 12,382 shares in the company, valued at $920,230.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Douglas I. Kra sold 6,810 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $83.72, for a total transaction of $570,133.20. Following the completion of the transaction, the senior vice president now owns 52,160 shares of the company’s stock, valued at $4,366,835.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,907 shares of company stock valued at $1,439,861. Corporate insiders own 51.89% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bares Capital Management Inc. lifted its holdings in shares of Pegasystems by 675.2% during the fourth quarter. Bares Capital Management Inc. now owns 3,576,363 shares of the technology company’s stock valued at $284,857,000 after acquiring an additional 3,115,000 shares during the period. Praesidium Investment Management Company LLC acquired a new position in shares of Pegasystems during the 1st quarter worth about $35,094,000. Norges Bank acquired a new position in shares of Pegasystems during the 4th quarter worth about $33,822,000. First Trust Advisors LP grew its position in shares of Pegasystems by 1,020.1% during the 1st quarter. First Trust Advisors LP now owns 311,556 shares of the technology company’s stock worth $22,192,000 after buying an additional 283,742 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Pegasystems by 1,101.0% during the 1st quarter. Deutsche Bank AG now owns 249,965 shares of the technology company’s stock worth $17,806,000 after buying an additional 229,152 shares during the period. 48.36% of the stock is owned by institutional investors and hedge funds.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
Further Reading: Insider Trading
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