KeyCorp Reiterates Overweight Rating for Pegasystems (NASDAQ:PEGA)

Pegasystems (NASDAQ:PEGA - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at KeyCorp in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $118.00 price objective on the technology company's stock. KeyCorp's price target indicates a potential upside of 25.84% from the stock's previous close.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Barclays upped their target price on Pegasystems from $74.00 to $82.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Wedbush raised their price target on Pegasystems from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, Rosenblatt Securities upped their price objective on Pegasystems from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Pegasystems has an average rating of "Moderate Buy" and an average target price of $93.91.

Pegasystems Price Performance

Shares of NASDAQ PEGA traded up $1.02 during mid-day trading on Tuesday, hitting $93.77. 447,868 shares of the company's stock traded hands, compared to its average volume of 735,583. The company has a market capitalization of $8.04 billion, a P/E ratio of 68.45 and a beta of 1.09. Pegasystems has a 1 year low of $45.36 and a 1 year high of $97.94. The company's 50-day moving average is $93.01 and its two-hundred day moving average is $77.12.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The business had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.14 EPS. Equities analysts anticipate that Pegasystems will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Pegasystems news, CFO Kenneth Stillwell sold 6,200 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $94.67, for a total value of $586,954.00. Following the completion of the sale, the chief financial officer now directly owns 18,466 shares in the company, valued at $1,748,176.22. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 528 shares of Pegasystems stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. Insiders sold 27,914 shares of company stock valued at $2,414,935 over the last 90 days. Corporate insiders own 50.10% of the company's stock.

Institutional Trading of Pegasystems

A number of institutional investors have recently made changes to their positions in PEGA. Greenwood Capital Associates LLC purchased a new stake in Pegasystems in the third quarter valued at about $436,000. Crossmark Global Holdings Inc. increased its holdings in shares of Pegasystems by 110.0% during the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company's stock valued at $1,842,000 after acquiring an additional 13,200 shares in the last quarter. Foundry Partners LLC purchased a new position in shares of Pegasystems in the 3rd quarter valued at approximately $9,567,000. Nordea Investment Management AB boosted its stake in Pegasystems by 9.9% in the 4th quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company's stock worth $8,353,000 after purchasing an additional 7,947 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Pegasystems during the 2nd quarter worth approximately $67,968,000. Institutional investors and hedge funds own 46.89% of the company's stock.

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.