Brokerages Set Pegasystems Inc. (NASDAQ:PEGA) Price Target at $85.90

Pegasystems Inc. (NASDAQ:PEGA) has received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $85.90.

Several equities analysts have recently commented on PEGA shares. Rosenblatt Securities raised their price target on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $84.00 in a report on Thursday, August 1st. Barclays upped their price target on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Wedbush lifted their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st.

Pegasystems Stock Down 2.0 %

Shares of Pegasystems stock opened at $94.51 on Tuesday. Pegasystems has a 52 week low of $44.07 and a 52 week high of $97.00. The company has a market capitalization of $8.10 billion, a PE ratio of 68.99 and a beta of 1.06. The stock’s fifty day moving average is $79.57 and its two-hundred day moving average is $68.74.

Pegasystems (NASDAQ:PEGA) last posted 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. 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 the consensus estimate of $326.16 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts anticipate that Pegasystems will post 1.61 earnings per share for the current 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 dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insider Buying and Selling at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the completion of the transaction, the insider now owns 46,505 shares of the company’s stock, valued at approximately $3,274,417.05. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total value of $698,800.00. Following the completion of the sale, the director now directly owns 357,058 shares in the company, valued at approximately $24,951,213.04. The trade was a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,663 shares of company stock worth $2,387,862. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new stake in shares of Pegasystems in the third quarter valued at about $27,000. Venturi Wealth Management LLC increased its stake in Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after buying an additional 216 shares in the last quarter. Versant Capital Management Inc increased its stake in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after buying an additional 756 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Pegasystems during the third quarter valued at approximately $57,000. Finally, Capital Performance Advisors LLP purchased a new position in Pegasystems in the 3rd quarter valued at $67,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

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.