10 AI News You Can’t Miss

9. Pegasystems Inc. (NASDAQ:PEGA)

Number of Hedge Fund Holders: 28

Pegasystems Inc. (NASDAQ:PEGA) develops, markets, licenses, hosts, and supports enterprise software. On December 23, Loop Capital raised the firm’s price target on Pegasystems to $115 from $90 and kept a “Buy” rating on the shares. The rating, part of a broader research note fine-tuning estimates on select Software names, was issued after inputs from company management, field personnel, and potential buyers. The analysis anticipates software vendors to report in line to slightly better-than-expected December prints. Particularly for Pega, the firm noted that a higher price target reflects go-to-market changes, growing interest in the GenAI Blueprint solution, and positive engagements with clients from the favorable appellate court ruling. In July 2024, the Virginia Court of Appeals overturned a preceding $2 billion verdict against Pegasystems in a trade secrets lawsuit filed by Appian Corporation, which positively influenced the company’s business engagements.