Pegasystems (NASDAQ:PEGA) Given New $115.00 Price Target at Rosenblatt Securities

Pegasystems (NASDAQ:PEGA - Get Free Report) had its target price increased by equities research analysts at Rosenblatt Securities from $95.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Rosenblatt Securities' price target indicates a potential upside of 36.11% from the stock's current price.

A number of other equities analysts also recently weighed in on PEGA. Wedbush boosted their target price on Pegasystems from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. KeyCorp reiterated an "overweight" rating and issued a $118.00 price objective on shares of Pegasystems in a research note on Tuesday, January 14th. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a research note on Thursday, November 21st. Citigroup upped their price objective on Pegasystems from $99.00 to $123.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Finally, Barclays upped their price objective on Pegasystems from $82.00 to $103.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Three 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $99.36.

Pegasystems Price Performance

Shares of NASDAQ PEGA traded down $0.79 during midday trading on Tuesday, reaching $84.49. The company's stock had a trading volume of 1,459,378 shares, compared to its average volume of 982,513. Pegasystems has a 12-month low of $54.55 and a 12-month high of $113.67. The firm has a 50 day moving average price of $99.29 and a 200-day moving average price of $83.74. The stock has a market capitalization of $7.24 billion, a P/E ratio of 61.62 and a beta of 1.11.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share 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, equities analysts predict that Pegasystems will post 1.63 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Efstathios A. Kouninis sold 299 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $96.90, for a total value of $28,973.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the company's stock in a transaction on 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 approximately $1,528,043.58. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,003 shares of company stock worth $1,346,086 over the last 90 days. Corporate insiders own 50.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Treasurer of the State of North Carolina increased its holdings in shares of Pegasystems by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company's stock worth $1,826,000 after purchasing an additional 120 shares during the period. Tower Research Capital LLC TRC increased its stake in Pegasystems by 2.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company's stock valued at $548,000 after acquiring an additional 139 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Pegasystems by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company's stock valued at $783,000 after acquiring an additional 141 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake 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 during the last quarter. Finally, Arizona State Retirement System increased its stake in Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company's stock valued at $1,155,000 after acquiring an additional 152 shares during the last quarter. Institutional investors 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.