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

Pegasystems (NASDAQ:PEGA - Get Free Report) had its price objective lowered by equities research analysts at KeyCorp from $118.00 to $94.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. KeyCorp's price objective points to a potential upside of 37.55% from the stock's previous close.

A number of other brokerages also recently issued reports on PEGA. DA Davidson dropped their price target on shares of Pegasystems from $90.00 to $70.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada raised their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. JMP Securities reiterated a "market outperform" rating and set a $110.00 target price on shares of Pegasystems in a research note on Thursday, February 13th. StockNews.com downgraded Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Finally, Rosenblatt Securities lifted their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.27.

Pegasystems Stock Performance

Shares of Pegasystems stock traded up $0.33 during midday trading on Wednesday, hitting $68.34. The company had a trading volume of 671,413 shares, compared to its average volume of 666,736. The company has a 50 day moving average of $74.08 and a 200 day moving average of $85.25. The stock has a market capitalization of $5.87 billion, a P/E ratio of 67.66 and a beta of 1.22. Pegasystems has a 52-week low of $54.55 and a 52-week high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (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%. Equities research analysts forecast that Pegasystems will post 1.89 EPS for the current year.

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $69.75, for a total transaction of $139,500.00. Following the sale, the chief financial officer now directly owns 21,245 shares of the company's stock, valued at $1,481,838.75. The trade was a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total value of $2,437,470.00. Following 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. Insiders have sold a total of 80,791 shares of company stock worth $6,134,554 in the last three months. Insiders own 50.10% of the company's stock.

Institutional Trading of Pegasystems

Several institutional investors have recently added to or reduced their stakes in PEGA. Principal Securities Inc. raised its holdings 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 buying an additional 167 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after acquiring an additional 149 shares during the period. CX Institutional purchased a new stake in shares of Pegasystems in the 1st quarter worth $36,000. GAMMA Investing LLC lifted its stake in Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after acquiring an additional 201 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Pegasystems during the 4th quarter worth about $61,000. Institutional investors own 46.89% of the company's stock.

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.