Pegasystems price target lowered to $66 from $68 at Barclays

Barclays lowered the firm’s price target on Pegasystems to $66 from $68 and keeps an Equal Weight rating on the shares as part of a Q1 earnings preview for the software sector. There are finally signs of better times ahead in software with supplier checks “properly inflecting upwards,” the analyst tells investors in a research note. The firm says that not all vendors will see these reflected in their Q1 results, so it expects an uneven performance across the group.