Market Runner: Can Pegasystems Inc.’s Tomorrow be Different? The Stock Just Broke Its High

Market Runner: Can Pegasystems Inc.'s Tomorrow be Different? The Stock Just Broke Its High

The stock of Pegasystems Inc. (NASDAQ:PEGA) hit a new 52-week high and has $56.94 target or 64.00% above today’s $34.72 share price. The 6 months bullish chart indicates low risk for the $2.63 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $56.94 price target is reached, the company will be worth $1.68 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 5.39% or $1.77 during the last trading session, hitting $34.72. About 866,306 shares traded hands or 121.39% up from the average. Pegasystems Inc. (NASDAQ:PEGA) has risen 34.82% since April 11, 2016 and is uptrending. It has outperformed by 28.67% the S&P500.

Pegasystems Inc. (NASDAQ:PEGA) Ratings Coverage

Out of 3 analysts covering Pegasystems (NASDAQ:PEGA), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Pegasystems has been the topic of 6 analyst reports since September 11, 2015 according to StockzIntelligence Inc. Benchmark maintained the shares of PEGA in a report on Friday, February 26 with “Hold” rating. Wedbush maintained it with “Outperform” rating and $34 target price in Thursday, November 3 report. Benchmark maintained Pegasystems Inc. (NASDAQ:PEGA) rating on Wednesday, October 28. Benchmark has “Hold” rating and $27 price target. The stock of Pegasystems Inc. (NASDAQ:PEGA) has “Mkt Outperform” rating given on Friday, September 11 by JMP Securities.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.83 in 2016 Q2. Its down 0.46, from 1.29 in 2016Q1. The ratio dropped, as 11 funds sold all Pegasystems Inc. shares owned while 59 reduced positions. 17 funds bought stakes while 41 increased positions. They now own 30.80 million shares or 0.91% less from 31.08 million shares in 2016Q1.
Royal Bank Of Canada has 0.02% invested in the company for 950,345 shares. Polar Cap Limited Liability Partnership accumulated 0.2% or 388,300 shares. Ranger Management L P has invested 1.3% of its portfolio in Pegasystems Inc. (NASDAQ:PEGA). Federated Investors Pa has invested 0% of its portfolio in Pegasystems Inc. (NASDAQ:PEGA). The New York-based Mufg Americas Corporation has invested 0% in Pegasystems Inc. (NASDAQ:PEGA). Moreover, American has 0% invested in Pegasystems Inc. (NASDAQ:PEGA) for 20,767 shares. Millennium Mngmt Ltd Liability last reported 0.01% of its portfolio in the stock. The Washington-based Fisher Asset Lc has invested 0.08% in Pegasystems Inc. (NASDAQ:PEGA). The Delaware-based Tiverton Asset Mngmt Ltd Limited Liability Company has invested 0.61% in Pegasystems Inc. (NASDAQ:PEGA). Voya Mgmt last reported 0% of its portfolio in the stock. Credit Suisse Ag last reported 0% of its portfolio in the stock. The New York-based Alliancebernstein L P has invested 0% in Pegasystems Inc. (NASDAQ:PEGA). First Trust L P last reported 43,346 shares in the company. California State Teachers Retirement Systems, a California-based fund reported 75,647 shares. State Board Of Administration Of Florida Retirement Systems last reported 0% of its portfolio in the stock.

Insider Transactions: Since May 17, 2016, the stock had 0 insider purchases, and 44 selling transactions for $2.41 million net activity. WYMAN WILLIAM W sold $466,097 worth of stock. $62,964 worth of Pegasystems Inc. (NASDAQ:PEGA) was sold by JONES RICHARD H. Shares for $25,589 were sold by KRA DOUGLAS I. KOUNINIS EFSTATHIOS A sold $2,299 worth of Pegasystems Inc. (NASDAQ:PEGA) on Thursday, September 15. $241,050 worth of shares were sold by KAPLAN STEVEN F on Friday, August 19. WEBER LARRY sold $82,375 worth of Pegasystems Inc. (NASDAQ:PEGA) on Monday, November 7. On Monday, November 7 Trefler Leon sold $142,890 worth of the stock or 4,313 shares.

More important recent Pegasystems Inc. (NASDAQ:PEGA) news were published by: Fool.com which released: “Pegasystems Inc. Maintains Sales Momentum” on November 03, 2016, also Fool.com published article titled: “Pegasystems Inc. Posts Steady Growth Despite Industry Volatility”, Fool.com published: “Pegasystems Inc. Posts a 52% Profit Boost” on May 07, 2016. More interesting news about Pegasystems Inc. (NASDAQ:PEGA) was released by: Fool.com and their article: “Pegasystems Inc. Stock Fell 10% Friday” with publication date: February 08, 2016.

PEGA Company Profile

Pegasystems Inc., incorporated on April 21, 1983, develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Firm also offers software applications built on the Pega 7 platform. The Company’s software is designed to assist clients in building, deploying, and evolving enterprise applications. The Company’s applications and platform intersect with and encompass several traditional software markets, including Customer Relationship Management (CRM); 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. The Firm provides implementation, consulting, training, technical support and hosting services to facilitate the use of its software. The Firm offers its services to financial, healthcare, insurance, communications and media, public sector, manufacturing, life sciences and other markets.

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