Pegasystems Inc. (NASDAQ:PEGA) Receives $89.00 Consensus Price Target from Analysts

Shares of Pegasystems Inc. (NASDAQ:PEGA) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $89.00.

Several equities analysts recently commented on the company. Wedbush upped their target price on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Rosenblatt Securities upped their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Citigroup increased their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Barclays boosted their target price on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st.

Pegasystems Price Performance

NASDAQ:PEGA opened at $95.06 on Friday. The firm has a market cap of $8.15 billion, a PE ratio of 69.39 and a beta of 1.09. The firm has a 50 day simple moving average of $87.96 and a 200-day simple moving average of $73.33. Pegasystems has a 1-year low of $44.07 and a 1-year high of $97.94.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $326.16 million. During the same period in the previous year, the company earned $0.14 EPS. Pegasystems’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Pegasystems will post 1.61 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. Pegasystems’s payout ratio is 8.76%.

Insider Activity at Pegasystems

In related news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction on Monday, September 30th. The shares were sold at an average price of $72.00, for a total transaction of $54,144.00. Following the sale, the insider now owns 38,388 shares of the company’s stock, valued at $2,763,936. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 528 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. In the last three months, insiders sold 26,914 shares of company stock worth $2,283,688. Corporate insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Hedge funds and other institutional investors have recently modified their holdings of the business. True Wealth Design LLC purchased a new position in Pegasystems in the third quarter valued at about $27,000. Venturi Wealth Management LLC raised its position in shares of Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after purchasing an additional 216 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Pegasystems during the 3rd quarter valued at approximately $57,000. Capital Performance Advisors LLP acquired a new stake in shares of Pegasystems during the third quarter worth approximately $67,000. Finally, Headlands Technologies LLC increased its stake in shares of Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after buying an additional 260 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

About Pegasystems

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.