JMP Securities Raises Pegasystems (NASDAQ:PEGA) Price Target to $126.00

Pegasystems (NASDAQ:PEGA) had its price target increased by JMP Securities from $109.00 to $126.00 in a research report released on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on PEGA. ValuEngine cut Pegasystems from a buy rating to a hold rating in a research note on Thursday, July 2nd. BidaskClub lowered Pegasystems from a strong-buy rating to a buy rating in a report on Wednesday, July 15th. DA Davidson boosted their target price on Pegasystems from $105.00 to $120.00 and gave the stock a buy rating in a report on Tuesday, June 2nd. Rosenblatt Securities boosted their target price on Pegasystems from $120.00 to $125.00 and gave the stock a buy rating in a report on Wednesday. Finally, Wedbush boosted their target price on Pegasystems from $96.00 to $104.00 and gave the stock an outperform rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $117.44.

Shares of Pegasystems stock opened at $116.89 on Wednesday. Pegasystems has a 12-month low of $38.01 and a 12-month high of $117.00. The stock has a market cap of $9.40 billion, a P/E ratio of -123.04 and a beta of 1.28. The company has a quick ratio of 2.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $99.83 and its 200-day moving average is $88.20.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Tuesday, July 28th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Pegasystems had a negative return on equity of 16.83% and a negative net margin of 7.66%. The company had revenue of $227.38 million for the quarter, compared to the consensus estimate of $225.77 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that Pegasystems will post -1.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Tuesday, June 30th. Pegasystems’s dividend payout ratio is -9.60%.

In other news, SVP Leon Trefler sold 2,627 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $102.58, for a total transaction of $269,477.66. Following the completion of the sale, the senior vice president now directly owns 12,277 shares in the company, valued at approximately $1,259,374.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 607 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $87.13, for a total value of $52,887.91. Following the sale, the chief accounting officer now owns 1,877 shares of the company’s stock, valued at $163,543.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,534 shares of company stock worth $1,507,039. Insiders own 51.89% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PEGA. Praesidium Investment Management Company LLC bought a new stake in shares of Pegasystems during the 1st quarter valued at $35,094,000. Norges Bank bought a new stake in shares of Pegasystems during the 4th quarter valued at $33,822,000. First Trust Advisors LP lifted its position in shares of Pegasystems by 1,020.1% during the 1st quarter. First Trust Advisors LP now owns 311,556 shares of the technology company’s stock valued at $22,192,000 after acquiring an additional 283,742 shares during the period. Deutsche Bank AG lifted its position in shares of Pegasystems by 1,101.0% during the 1st quarter. Deutsche Bank AG now owns 249,965 shares of the technology company’s stock valued at $17,806,000 after acquiring an additional 229,152 shares during the period. Finally, Linden Advisors LP bought a new stake in shares of Pegasystems during the 1st quarter valued at $10,307,000. Hedge funds and other institutional investors own 48.30% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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