Pegasystems (NASDAQ:PEGA) Rating Reiterated by Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a $75.00 target price on the technology company’s stock.

PEGA has been the subject of a number of other research reports. Citigroup increased their target price on shares of Pegasystems from $86.00 to $87.00 and gave the company a buy rating in a research report on Friday, March 22nd. DA Davidson reiterated a neutral rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Monday, March 4th. Wedbush reiterated an outperform rating and issued a $90.00 price objective on shares of Pegasystems in a research note on Wednesday, April 10th. The Goldman Sachs Group raised their price target on shares of Pegasystems from $50.00 to $70.00 and gave the company a neutral rating in a research report on Friday, February 16th. Finally, TheStreet upgraded shares of Pegasystems from a d+ rating to a c rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pegasystems has a consensus rating of Moderate Buy and an average target price of $72.33.

Pegasystems Price Performance

Shares of PEGA opened at $61.80 on Tuesday. The company has a 50 day moving average price of $62.83 and a 200-day moving average price of $53.12. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $69.26. The stock has a market capitalization of $5.19 billion, a PE ratio of 75.37 and a beta of 1.06. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.78 and a current ratio of 1.78.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.64. Pegasystems had a net margin of 5.32% and a return on equity of 53.49%. The firm had revenue of $474.23 million during the quarter, compared to analysts’ expectations of $428.76 million. Equities analysts predict that Pegasystems will post 1.49 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.19%. The ex-dividend date was Thursday, March 28th. Pegasystems’s payout ratio is 14.63%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 1,504 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $63.80, for a total transaction of $95,955.20. Following the transaction, the insider now directly owns 35,533 shares of the company’s stock, valued at $2,267,005.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Leon Trefler sold 1,504 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $63.80, for a total value of $95,955.20. Following the transaction, the insider now directly owns 35,533 shares of the company’s stock, valued at $2,267,005.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kenneth Stillwell sold 20,606 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the transaction, the chief financial officer now directly owns 24,535 shares in the company, valued at $1,549,875.95. The disclosure for this sale can be found here. Insiders have sold a total of 43,792 shares of company stock valued at $2,781,669 over the last ninety days. Corporate insiders own 50.20% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors have recently bought and sold shares of PEGA. Quadrant Capital Group LLC raised its stake in Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after purchasing an additional 226 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after acquiring an additional 364 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Pegasystems in the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Pegasystems in the fourth quarter valued at approximately $44,000. Finally, CWM LLC grew its holdings in shares of Pegasystems by 80.1% in the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after purchasing an additional 516 shares in 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.