Pegasystems (NASDAQ:PEGA) PT Raised to $92.00

Pegasystems (NASDAQ:PEGA) had its target price increased by Citigroup from $87.00 to $92.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

PEGA has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on Pegasystems from $78.00 to $83.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Loop Capital raised Pegasystems from a hold rating to a buy rating and upped their price objective for the company from $68.00 to $84.00 in a research report on Thursday, August 1st. Wedbush reissued an outperform rating and issued a $90.00 target price on shares of Pegasystems in a research report on Monday, July 29th. The Goldman Sachs Group increased their price target on Pegasystems from $70.00 to $78.00 and gave the company a neutral rating in a report on Friday, July 26th. Finally, JMP Securities upgraded Pegasystems from a market perform rating to an outperform rating and set a $85.00 price target for the company in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $83.60.

Pegasystems Price Performance

PEGA stock opened at $72.21 on Wednesday. Pegasystems has a 1 year low of $37.66 and a 1 year high of $74.40. The firm has a 50-day moving average of $67.72 and a 200 day moving average of $62.94. The company has a market cap of $6.17 billion, a P/E ratio of 88.06 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million during 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%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.41) EPS. On average, equities research analysts expect that Pegasystems will post 1.54 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.03 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. Pegasystems’s dividend payout ratio is currently 14.63%.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $59.78, for a total value of $119,560.00. Following the completion of the sale, the chief financial officer now owns 22,197 shares in the company, valued at $1,326,936.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $59.78, for a total transaction of $119,560.00. Following the transaction, the chief financial officer now owns 22,197 shares in the company, valued at $1,326,936.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Efstathios A. Kouninis sold 932 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $71.00, for a total transaction of $66,172.00. Following the completion of the sale, the chief accounting officer now directly owns 2 shares of the company’s stock, valued at $142. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,955 shares of company stock valued at $3,243,771. 50.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently modified their holdings of PEGA. Pacer Advisors Inc. bought a new position in Pegasystems in the second quarter worth approximately $67,968,000. Norges Bank bought a new position in Pegasystems in the fourth quarter worth approximately $22,784,000. Dimensional Fund Advisors LP raised its stake in Pegasystems by 266.8% in the second quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock worth $23,641,000 after buying an additional 284,095 shares in the last quarter. AQR Capital Management LLC raised its stake in Pegasystems by 104.5% in the second quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after buying an additional 283,508 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Pegasystems by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock worth $347,067,000 after buying an additional 250,273 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

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.