Pegasystems Inc. (NASDAQ:PEGA) Receives $85.90 Average PT from Brokerages

Shares of Pegasystems Inc. (NASDAQ:PEGA) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $85.90.

Several brokerages recently issued reports on PEGA. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Barclays upped their price objective on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Citigroup raised their price objective on Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Rosenblatt Securities upped their target price on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Wedbush lifted their price target on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th.

Pegasystems Trading Down 0.5 %

Shares of PEGA opened at $94.48 on Tuesday. Pegasystems has a 12-month low of $44.07 and a 12-month high of $97.00. The company has a market cap of $8.10 billion, a PE ratio of 68.96 and a beta of 1.09. The stock has a 50-day moving average price of $80.60 and a 200-day moving average price of $69.29.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same period last year, the firm posted $0.14 earnings per share. Pegasystems’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that Pegasystems will post 1.61 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s payout ratio is 8.76%.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.07, for a total transaction of $80,070.00. Following the transaction, the insider now owns 47,119 shares in the company, valued at $3,772,818.33. The trade was a 2.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The disclosure for this sale can be found here. Insiders sold 17,663 shares of company stock worth $1,407,422 in the last three months. 50.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Pegasystems by 54.0% during the third quarter. Franklin Resources Inc. now owns 141,031 shares of the technology company’s stock valued at $10,362,000 after buying an additional 49,433 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Pegasystems during the 3rd quarter worth approximately $325,000. Geode Capital Management LLC raised its position in shares of Pegasystems by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company’s stock worth $59,895,000 after acquiring an additional 25,901 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Pegasystems by 40.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 17,198 shares of the technology company’s stock valued at $1,257,000 after purchasing an additional 4,988 shares during the period. Finally, Hodges Capital Management Inc. bought a new stake in shares of Pegasystems during the third quarter valued at approximately $4,503,000. 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.