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

Pegasystems (NASDAQ:PEGA - Get Free Report) had its target price lowered by stock analysts at Citigroup from $119.00 to $107.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Citigroup's price target would suggest a potential upside of 56.00% from the stock's current price.

PEGA has been the subject of several other research reports. StockNews.com cut shares of Pegasystems from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Rosenblatt Securities lowered their price objective on Pegasystems from $115.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday. Loop Capital cut their target price on Pegasystems from $115.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. KeyCorp lowered 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. Finally, Barclays reduced their price objective on shares of Pegasystems from $97.00 to $84.00 and set an "equal weight" rating for the company in a research report on Monday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $92.82.

Pegasystems Stock Up 3.3 %

PEGA stock traded up $2.20 during midday trading on Tuesday, hitting $68.59. The company's stock had a trading volume of 548,075 shares, compared to its average volume of 936,295. Pegasystems has a 52-week low of $54.55 and a 52-week high of $113.67. The firm has a 50-day simple moving average of $73.29 and a 200-day simple moving average of $85.41. The firm has a market capitalization of $5.89 billion, a P/E ratio of 67.91 and a beta of 1.22.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its 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%. On average, sell-side analysts expect that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Insider Transactions at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 2,049 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $75.65, for a total transaction of $155,006.85. Following the sale, the insider now directly owns 52,019 shares in the company, valued at approximately $3,935,237.35. The trade was a 3.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the completion of the sale, the chief financial officer now owns 14,466 shares of the company's stock, valued at $1,528,043.58. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,291 shares of company stock worth $8,289,469 over the last ninety days. 50.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PEGA. Principal Securities Inc. grew its holdings in Pegasystems by 150.5% in the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. 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 valued at $30,000 after acquiring an additional 149 shares in the last quarter. CX Institutional acquired a new position in Pegasystems during the first quarter worth about $36,000. GAMMA Investing LLC lifted its holdings in shares of Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock valued at $42,000 after purchasing an additional 201 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Pegasystems in the fourth quarter valued at approximately $61,000. 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.

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