Barclays Has Lowered Expectations for Pegasystems (NASDAQ:PEGA) Stock Price

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

PEGA has been the subject of a number of other reports. DA Davidson decreased 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. JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of Pegasystems in a report on Thursday, February 13th. KeyCorp decreased their price target on Pegasystems from $118.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Loop Capital reduced their target price on shares of Pegasystems from $115.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Rosenblatt Securities raised their price target on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.09.

Pegasystems Trading Down 2.3 %

Shares of PEGA traded down $1.55 during mid-day trading on Monday, reaching $66.79. The company had a trading volume of 84,119 shares, compared to its average volume of 665,715. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 66.26 and a beta of 1.22. The firm has a fifty day simple moving average of $74.08 and a 200-day simple moving average of $85.45. Pegasystems has a fifty-two week low of $54.55 and a fifty-two week high of $113.67.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate 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, equities analysts predict that Pegasystems will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Pegasystems news, CFO Kenneth Stillwell sold 7,742 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $84.72, for a total transaction of $655,902.24. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares of the company’s stock, valued at $1,225,559.52. The trade was a 34.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction that occurred 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 owns 17,308,786 shares in the company, valued at $1,339,353,860.68. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,791 shares of company stock valued at $6,134,554. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. grew its stake in shares of Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after buying an additional 149 shares in the last quarter. CX Institutional acquired a new position in Pegasystems during the 1st quarter valued at about $36,000. GAMMA Investing LLC raised its position in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after buying an additional 201 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Pegasystems in the 4th quarter worth approximately $61,000. 46.89% of the stock is owned by 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.