Pegasystems (NASDAQ:PEGA) Price Target Raised to $95.00

Pegasystems (NASDAQ:PEGA) had its price objective boosted by Rosenblatt Securities from $90.00 to $95.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently weighed in on PEGA. DA Davidson raised their price objective on Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a research note on Monday, July 29th. StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Friday. 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 note on Wednesday, July 31st. Finally, Barclays lifted their target price on Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Stock Performance

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

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

Pegasystems Announces Dividend

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

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the sale, the chief accounting officer now directly owns 752 shares in the company, valued at approximately $54,211.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at $54,211.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total value 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,955 shares of company stock worth $3,136,247. Company insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System boosted 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 valued at $300,000 after buying an additional 211 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Pegasystems during the third quarter valued at $382,000. Financial Management Professionals Inc. bought a new position in Pegasystems in the third quarter valued at about $57,000. Wealth Enhancement Advisory Services LLC bought a new position in Pegasystems in the third quarter valued at about $604,000. Finally, Impact Partnership Wealth LLC bought a new position in Pegasystems in the third quarter valued at about $207,000. 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.