Stock Analysis:Pegasystems (NASDAQ:PEGA) Stock Target Upgraded
In an analyst note shared with investors and clients by JMP Securities on 18 December, Pegasystems (NASDAQ:PEGA) had its target lifted to $34.00. The firm currently has a solid “Market Outperform” rating on shares.
From a total of 5 analysts covering Pegasystems (NASDAQ:PEGA) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $34 while the lowest target price is $25. The mean of all analyst targets is $29.4 with a 6.31% above today’s ($27.59) stock price. Pegasystems was the topic of 3 analyst reports since September 11, 2015 according to the firm StockzIntelligence Inc. Benchmark maintained shares on October 28 with “Hold” rating.
Approximately 151,454 shares of stock traded hands. Pegasystems Inc. (NASDAQ:PEGA) has risen 28.27% since May 15, 2015 and is uptrending. It has outperformed by 32.08% the S&P500.
The overall sentiment of institutions has increased to 1.06 in Q2 2015. Its up 0.31, from 0.75 in 2015Q2. The ratio increased, as 14 institutions have sold all the shares of Pegasystems Inc. that they owned while 51 funds have taken shares off the table. 25 funds have purchased shares for the first time while 44 added to their positions. These institutions now hold 29.53 million shares or 5.88% less than the 31.38 million shares they owned in 2015Q2.
The Fund Harber Asset Management Llc currently is holding shares equating to 4.95% of its total portfolio in Pegasystems Inc. representing a total of 313,991 shares. Another fund,Herald Investment Management Ltd, is holding a total of 381,000 shares equating to 4.16% of their holdings. Additionally, Independence Capital Asset Partners Llc has a 93,966 share stake in Pegasystems Inc. which represents 3.24% of their total portfolio. The Fund, Cadian Capital Management Lp, based out of New York, has also built up a stake in the stock, which represents a total of 2.43% of their total portfolio. Finally Ironwood Investment Management Llc, a fund which is based in the state of Massachusetts reported a total holdings of 258,091 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of Pegasystems Inc. have witnessed 0 insider buys, and a total of 8 selling transactions equating to a net activity of approximately $1.64 million . Kra Douglas I sold 925 shares worth approximately $22,552. Ohalloran James P sold 9,029 shares worth approximately $219,495. Pyle Michael R sold 10,000 shares worth approximately $268,800. Jones Richard H sold 40,000 shares worth approximately $1.06 million. The company insider Kouninis Efstathios A sold 76 shares worth $2,050.
Pegasystems Inc. develops, markets, licenses and supports software applications, which is designed to assist clients in building, deploying and evolving enterprise applications. The company has a market cap of $2.13 billion. The Company’s applications and platform intersect with and encompass several traditional software markets, including Customer Relationship Management ; Business Process Management (BPM); Business Rules Management Systems (BRMS); Dynamic Case Management (DCM); Decision Management, which includes Predictive and Adaptive analytics, and the Vertical Specific Software (VSS) market of industry solutions and packaged applications. It has 61.21 P/E ratio. The Firm provides implementation, consulting, training, technical support and hosting services to facilitate the use of its software.
According to Zacks Investment Research, “Pegasystems Inc. is a leading provider of Customer Relationship Management software that enables transaction-intensive organizations to manage a broad array of customer interactions. Their software enables organizations to deliver high-quality, consistent customer service across today’s preferred interaction channels, from the traditional call center environment to Internet self-service. The company’s customers represent a wide range of industries, including banking and financial services, insurance, healthcare management, and telecommunications.”