Pegasystems (NASDAQ:PEGA) PT Raised to $74.00

Pegasystems (NASDAQ:PEGA) had its price objective hoisted by Barclays from $69.00 to $74.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. DA Davidson increased their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a neutral rating in a report on Friday. JMP Securities reiterated a market perform rating on shares of Pegasystems in a report on Wednesday, June 12th. Wedbush reissued an outperform rating and set a $90.00 target price on shares of Pegasystems in a report on Wednesday, June 12th. Rosenblatt Securities reaffirmed a buy rating and issued a $75.00 price target on shares of Pegasystems in a research note on Tuesday, April 23rd. Finally, The Goldman Sachs Group boosted their price target on Pegasystems from $70.00 to $78.00 and gave the stock a neutral rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pegasystems presently has a consensus rating of Moderate Buy and an average target price of $79.86.

Pegasystems Trading Down 1.4 %

Shares of NASDAQ:PEGA opened at $65.93 on Friday. Pegasystems has a 12-month low of $37.66 and a 12-month high of $71.27. The business has a 50 day moving average of $59.44 and a two-hundred day moving average of $59.13. The company has a market capitalization of $5.63 billion, a PE ratio of 80.40 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.22 by $0.30. The company had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. During the same period last year, the company earned ($0.41) earnings per share. Pegasystems’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts predict that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Monday, July 1st. Pegasystems’s payout ratio is 14.63%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the sale, the insider now directly owns 50,505 shares in the company, valued at $3,535,350. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the transaction, the insider now owns 50,505 shares of the company’s stock, valued at approximately $3,535,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.39, for a total transaction of $120,780.00. Following the completion of the sale, the chief financial officer now owns 22,884 shares of the company’s stock, valued at approximately $1,381,964.76. The disclosure for this sale can be found here. Insiders have sold 6,752 shares of company stock valued at $415,618 over the last 90 days. 50.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds have recently added to or reduced their stakes in PEGA. Quadrant Capital Group LLC grew its stake in shares of Pegasystems by 80.1% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after acquiring an additional 226 shares in the last quarter. Headlands Technologies LLC acquired a new position in Pegasystems during the 4th quarter worth $26,000. Parkside Financial Bank & Trust grew its stake in Pegasystems by 219.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after purchasing an additional 364 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Pegasystems in the 4th quarter valued at about $44,000. Finally, Versant Capital Management Inc raised its position in Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after purchasing an additional 756 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients' processes and workflows.