Pegasystems (NASDAQ:PEGA) Price Target Raised to $90.00 at Royal Bank of Canada

Pegasystems (NASDAQ:PEGA) had its price target boosted by Royal Bank of Canada from $77.00 to $90.00 in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on PEGA. Wedbush reissued an outperform rating and issued a $90.00 price target on shares of Pegasystems in a report on Wednesday, June 12th. Citigroup dropped their target price on shares of Pegasystems from $87.00 to $82.00 and set a buy rating on the stock in a research note on Wednesday, June 26th. JMP Securities restated a market perform rating on shares of Pegasystems in a research note on Wednesday, June 12th. The Goldman Sachs Group upped their price objective on Pegasystems from $70.00 to $78.00 and gave the company a neutral rating in a research note on Friday. Finally, DA Davidson raised their target price on Pegasystems from $60.00 to $70.00 and gave the stock a neutral rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pegasystems currently has a consensus rating of Moderate Buy and a consensus target price of $79.86.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $65.93 on Friday. Pegasystems has a 52 week low of $37.66 and a 52 week high of $71.27. The firm has a 50-day moving average price of $59.44 and a two-hundred day moving average price of $59.13. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 80.40 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The company had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. During the same period last year, the business posted ($0.41) earnings per share. Pegasystems’s revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts forecast that Pegasystems will post 1.5 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Monday, July 1st. Pegasystems’s payout ratio is currently 14.63%.

Insider Activity

In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.39, for a total transaction of $120,780.00. Following the sale, the chief financial officer now owns 22,884 shares of the company’s stock, valued at approximately $1,381,964.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.39, for a total transaction of $120,780.00. Following the completion of the transaction, the chief financial officer now directly owns 22,884 shares in the company, valued at approximately $1,381,964.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon Trefler sold 752 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $60.21, for a total value of $45,277.92. Following the completion of the sale, the insider now owns 39,164 shares in the company, valued at approximately $2,358,064.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,752 shares of company stock worth $415,618. 50.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its stake in Pegasystems by 80.1% in the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after buying an additional 226 shares in the last quarter. Headlands Technologies LLC purchased a new position in Pegasystems in the fourth quarter worth $26,000. Parkside Financial Bank & Trust increased its stake in Pegasystems by 219.3% in 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. Harvest Fund Management Co. Ltd purchased a new stake in Pegasystems during the fourth quarter valued at about $44,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after purchasing an additional 756 shares in the last quarter. 46.89% of the stock is currently owned by 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.