Wedbush Increases Pegasystems (NASDAQ:PEGA) Price Target to $100.00

Pegasystems (NASDAQ:PEGA) had its price target increased by Wedbush from $90.00 to $100.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the technology company’s stock. Wedbush also issued estimates for Pegasystems’ Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $1.66 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.28 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $2.05 EPS.

Other analysts have also recently issued research reports about the stock. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $84.00 in a report on Thursday, August 1st. Royal Bank of Canada upped their price target on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays upped their price target on shares of Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. DA Davidson upped their price target on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded up $0.07 during mid-day trading on Friday, hitting $80.03. The stock had a trading volume of 1,463,714 shares, compared to its average volume of 549,402. Pegasystems has a 1 year low of $38.94 and a 1 year high of $82.22. The business has a 50 day moving average price of $70.20 and a two-hundred day moving average price of $64.12. The firm has a market cap of $6.84 billion, a P/E ratio of 55.19 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. The business had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share. Equities research analysts predict that Pegasystems will post 1.54 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is presently 8.28%.

Insider Activity at Pegasystems

In related news, CFO Kenneth Stillwell sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total value of $73,170.00. Following the completion of the transaction, the chief financial officer now directly owns 17,262 shares of the company’s stock, valued at approximately $1,263,060.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Pegasystems news, Director Richard H. Jones sold 15,271 shares of Pegasystems stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the completion of the transaction, the director now directly owns 371,787 shares of the company’s stock, valued at $25,746,249.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the transaction, the chief financial officer now directly owns 17,262 shares of the company’s stock, valued at $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,955 shares of company stock valued at $3,136,247. 50.10% of the stock is owned by corporate insiders.

Institutional Trading of Pegasystems

Several institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System lifted its position in shares of Pegasystems by 5.4% during the third quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock worth $300,000 after purchasing an additional 211 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Pegasystems during the third quarter worth $382,000. Financial Management Professionals Inc. bought a new stake in shares of Pegasystems during the third quarter worth $57,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pegasystems during the third quarter worth $604,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Pegasystems during the third quarter worth $207,000. 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.