Pegasystems (NASDAQ:PEGA) had its price objective boosted by Benchmark from $67.00 to $72.00 in a report published on Monday morning. The firm currently has a buy rating on the technology company’s stock.
A number of other research analysts have also recently commented on PEGA. TheStreet cut Pegasystems from a b- rating to a c rating in a report on Wednesday, November 22nd. BidaskClub upgraded Pegasystems from a strong sell rating to a sell rating in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Pegasystems from a sell rating to a hold rating in a report on Wednesday, January 10th. UBS Group reiterated an overweight rating and issued a $65.00 price objective on shares of Pegasystems in a report on Tuesday, February 27th. Finally, Wedbush reiterated an outperform rating and issued a $73.00 price objective (up from $66.00) on shares of Pegasystems in a report on Thursday, March 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $65.67.
Pegasystems (NASDAQ PEGA) opened at $62.10 on Monday. Pegasystems has a twelve month low of $40.75 and a twelve month high of $64.85. The company has a market capitalization of $4,908.55, a P/E ratio of 149.64 and a beta of 1.08.
In other Pegasystems news, Director Steven F. Kaplan sold 8,585 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $62.31, for a total transaction of $534,931.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Efstathios A. Kouninis sold 1,700 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.91, for a total value of $106,947.00. Following the transaction, the vice president now owns 1,631 shares in the company, valued at $102,606.21. The disclosure for this sale can be found here. Insiders have sold 27,329 shares of company stock worth $1,526,648 over the last 90 days. 53.61% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in PEGA. Carillon Tower Advisers Inc. acquired a new position in Pegasystems during the fourth quarter worth $48,796,000. Eagle Asset Management Inc. lifted its stake in Pegasystems by 44.5% during the third quarter. Eagle Asset Management Inc. now owns 1,087,004 shares of the technology company’s stock worth $63,752,000 after purchasing an additional 335,011 shares in the last quarter. Standard Life Aberdeen plc lifted its stake in Pegasystems by 31.6% during the fourth quarter. Standard Life Aberdeen plc now owns 993,088 shares of the technology company’s stock worth $46,849,000 after purchasing an additional 238,314 shares in the last quarter. Ranger Investment Management L.P. lifted its stake in Pegasystems by 26.9% during the fourth quarter. Ranger Investment Management L.P. now owns 965,692 shares of the technology company’s stock worth $45,532,000 after purchasing an additional 204,711 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Pegasystems by 305.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 195,388 shares of the technology company’s stock worth $9,213,000 after purchasing an additional 147,209 shares in the last quarter. Institutional investors own 47.75% of the company’s stock.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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