Pegasystems (NASDAQ:PEGA – Get Free Report)‘s stock had its “neutral” rating reiterated by investment analysts at JPMorgan Chase & Co. in a report issued on Thursday, Benzinga reports. They currently have a $47.00 price objective on the technology company’s stock, down from their previous price objective of $54.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 27.58% from the stock’s current price.
A number of other research analysts have also recently commented on PEGA. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Barclays reissued an “overweight” rating and issued a $39.00 price objective (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. KeyCorp downgraded shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 22nd. Zacks Research lowered shares of Pegasystems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 25th. Finally, Rosenblatt Securities reduced their target price on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.40.
View Our Latest Stock Report on PEGA
Pegasystems Trading Down 2.1%
Pegasystems (NASDAQ:PEGA – Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The firm had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. During the same period last year, the company posted $0.28 earnings per share. Pegasystems’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts predict that Pegasystems will post 1.66 earnings per share for the current year.
Insider Activity at Pegasystems
In other Pegasystems news, CFO Kenneth Stillwell sold 39,627 shares of Pegasystems stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $35.77, for a total transaction of $1,417,457.79. Following the completion of the transaction, the chief financial officer owned 95,225 shares of the company’s stock, valued at $3,406,198.25. The trade was a 29.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kerim Akgonul sold 7,000 shares of Pegasystems stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $36.03, for a total value of $252,210.00. Following the transaction, the insider directly owned 104,804 shares of the company’s stock, valued at $3,776,088.12. The trade was a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 50,690 shares of company stock worth $1,812,829. 48.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On Pegasystems
A number of large investors have recently modified their holdings of the company. Signature Equity Partners LLC increased its holdings in Pegasystems by 302.2% during the 1st quarter. Signature Equity Partners LLC now owns 929 shares of the technology company’s stock worth $40,000 after acquiring an additional 698 shares during the period. Leonteq Securities AG purchased a new position in shares of Pegasystems during the 4th quarter valued at $58,000. Global Retirement Partners LLC purchased a new position in shares of Pegasystems during the 2nd quarter valued at $41,000. Allworth Financial LP bought a new position in shares of Pegasystems in the second quarter worth $42,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Pegasystems in the second quarter worth $62,000. 46.89% of the stock is currently owned by institutional investors.
Pegasystems Company Profile
Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.
The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.
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