DA Davidson Issues Pessimistic Forecast for Pegasystems (NASDAQ:PEGA) Stock Price

Pegasystems (NASDAQ:PEGA) had its price target decreased by DA Davidson from $90.00 to $70.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 1.52% from the company’s previous close.

A number of other brokerages also recently weighed in on PEGA. Barclays cut their price target on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of Pegasystems in a report on Thursday, February 13th. StockNews.com lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Rosenblatt Securities lifted their price objective on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada lifted their price target on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.36.

Pegasystems Stock Performance

NASDAQ PEGA traded up $0.72 during trading hours on Monday, reaching $68.95. 253,183 shares of the company’s stock were exchanged, compared to its average volume of 659,900. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 68.27 and a beta of 1.22. Pegasystems has a one year low of $54.55 and a one year high of $113.67. The company’s 50-day moving average is $77.76 and its two-hundred day moving average is $85.55.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (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%. Research analysts predict that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Leon Trefler sold 2,049 shares of Pegasystems 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 sale, the insider now owns 52,019 shares of the company’s stock, valued at approximately $3,935,237.35. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $69.75, for a total value of $139,500.00. Following the completion of the transaction, the chief financial officer now directly owns 21,245 shares of the company’s stock, valued at approximately $1,481,838.75. The trade was a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,791 shares of company stock valued at $6,134,554 in the last ninety days. 50.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pegasystems

Several institutional investors and hedge funds have recently modified their holdings of PEGA. Principal Securities Inc. boosted its position 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. Global Retirement Partners LLC boosted its position in shares of Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after acquiring an additional 256 shares in the last quarter. Covestor Ltd raised its stake in Pegasystems by 75.0% during the 4th quarter. Covestor Ltd now owns 1,493 shares of the technology company’s stock worth $140,000 after acquiring an additional 640 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Pegasystems by 28.6% in the fourth quarter. KBC Group NV now owns 1,791 shares of the technology company’s stock valued at $167,000 after acquiring an additional 398 shares during the period. Institutional investors and hedge funds 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.