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

Pegasystems (NASDAQ:PEGA - Get Free Report) had its price objective reduced by equities research analysts at Barclays from $103.00 to $97.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Barclays's price target suggests a potential upside of 12.71% from the stock's previous close.

PEGA has been the topic of a number of other reports. KeyCorp reissued an "overweight" rating and issued a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. Citigroup boosted their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Royal Bank of Canada upped their target price on Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a report on Thursday, November 21st. Finally, Wedbush upped their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.36.

Pegasystems Stock Performance

Shares of PEGA traded up $1.04 during trading hours on Friday, hitting $86.06. 1,418,986 shares of the stock were exchanged, compared to its average volume of 1,017,725. The stock's 50-day moving average price is $98.85 and its two-hundred day moving average price is $84.18. Pegasystems has a 12-month low of $54.55 and a 12-month high of $113.67. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 62.82 and a beta of 1.11.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released 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 37.83% and a net margin of 8.29%. On average, research analysts expect that Pegasystems will post 1.63 earnings per share for the current year.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $105.63, for a total transaction of $211,260.00. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares in the company, valued at $1,528,043.58. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $94.60, for a total value of $71,139.20. Following the completion of the transaction, the insider now directly owns 36,884 shares of the company's stock, valued at approximately $3,489,226.40. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,003 shares of company stock worth $1,346,086 over the last ninety days. Company insiders own 50.10% of the company's stock.

Institutional Investors Weigh In On Pegasystems

A number of 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 acquiring an additional 167 shares in the last quarter. True Wealth Design LLC acquired a new position in Pegasystems during the 3rd quarter worth $27,000. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 149 shares during the period. Venturi Wealth Management LLC increased its holdings in Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock worth $48,000 after purchasing an additional 216 shares during the period. Finally, Financial Management Professionals Inc. purchased a new position in shares of Pegasystems in the 3rd quarter valued at about $57,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

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.