DA Davidson Cuts Pegasystems (NASDAQ:PEGA) Price Target to $70.00

Pegasystems (NASDAQ:PEGA - Get Free Report) had its price objective lowered by equities researchers at DA Davidson from $90.00 to $70.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. DA Davidson's target price suggests a potential upside of 2.43% from the company's previous close. DA Davidson also issued estimates for Pegasystems' FY2025 earnings at $1.81 EPS and FY2026 earnings at $2.03 EPS.

PEGA has been the subject of a number of other reports. JMP Securities reiterated a "market outperform" rating and issued a $110.00 price target on shares of Pegasystems in a report on Thursday, February 13th. KeyCorp reiterated an "overweight" rating and issued a $118.00 price objective on shares of Pegasystems in a research note on Tuesday, January 14th. Citigroup lifted their price target on shares of Pegasystems from $99.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Barclays lowered their price target on Pegasystems from $103.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Finally, Rosenblatt Securities lifted their target price on shares of Pegasystems from $95.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Pegasystems presently has a consensus rating of "Moderate Buy" and an average price target of $97.27.

Pegasystems Stock Up 0.5 %

NASDAQ:PEGA traded up $0.33 during mid-day trading on Monday, reaching $68.34. 671,413 shares of the stock were exchanged, compared to its average volume of 666,736. Pegasystems has a 1 year low of $54.55 and a 1 year high of $113.67. The stock has a market capitalization of $5.87 billion, a P/E ratio of 67.66 and a beta of 1.22. The company has a 50 day simple moving average of $74.08 and a 200-day simple moving average of $85.25.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. As a group, research analysts predict that Pegasystems will post 1.89 EPS for the current year.

Insider Activity

In other Pegasystems news, insider Leon Trefler sold 2,049 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 52,019 shares of the company's stock, valued at approximately $3,935,237.35. This trade represents a 3.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total value of $211,260.00. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares of the company's stock, valued at $1,528,043.58. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,791 shares of company stock valued at $6,134,554 in the last 90 days. Company insiders own 50.10% of the company's stock.

Institutional Investors Weigh In On Pegasystems

Several institutional investors have recently bought and sold shares of the company. Principal Securities Inc. increased its stake in Pegasystems by 150.5% during 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 during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Pegasystems by 85.6% in the fourth 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 stake in Pegasystems in the first quarter valued at $36,000. GAMMA Investing LLC lifted its stake in Pegasystems by 50.5% during the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after purchasing an additional 201 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock valued at $74,000 after buying an additional 256 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.