Pegasystems (NASDAQ:PEGA) Upgraded at Loop Capital

Loop Capital upgraded shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a buy rating in a research note released on Thursday, Marketbeat Ratings reports. They currently have $84.00 price target on the technology company’s stock, up from their previous price target of $68.00.

A number of other research firms have also weighed in on PEGA. JMP Securities upgraded Pegasystems from a market perform rating to an outperform rating and set a $85.00 price objective for the company in a research note on Wednesday, July 31st. DA Davidson lifted their price target on Pegasystems from $60.00 to $70.00 and gave the company a neutral rating in a research report on Friday, July 26th. Royal Bank of Canada upped their price objective on Pegasystems from $77.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, July 26th. William Blair upgraded shares of Pegasystems from a market perform rating to an outperform rating in a research note on Tuesday, July 30th. Finally, Wedbush restated an outperform rating and set a $90.00 price target on shares of Pegasystems in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pegasystems currently has a consensus rating of Moderate Buy and an average price target of $82.60.

Pegasystems Stock Down 2.0 %

Shares of NASDAQ:PEGA opened at $67.03 on Thursday. Pegasystems has a 52-week low of $37.66 and a 52-week high of $72.74. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 81.74 and a beta of 1.08. The business has a 50-day moving average price of $60.08 and a 200-day moving average price of $59.75.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.22 by $0.30. The business had revenue of $351.20 million during the quarter, compared to analysts’ expectations of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.41) EPS. As a group, equities analysts anticipate that Pegasystems will post 1.55 EPS for the current fiscal year.

Pegasystems Announces Dividend

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

Insiders Place Their Bets

In other news, Director Richard H. Jones 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Richard H. Jones 20,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sharon T. Rowlands purchased 8,600 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average price of $58.63 per share, for a total transaction of $504,218.00. Following the completion of the transaction, the director now directly owns 30,871 shares of the company’s stock, valued at approximately $1,809,966.73. The disclosure for this purchase can be found here. In the last three months, insiders sold 6,254 shares of company stock worth $403,117. Corporate insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

A number of large investors have recently made changes to their positions in PEGA. Quadrant Capital Group LLC boosted 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 buying an additional 226 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Pegasystems by 64.0% during the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after acquiring an additional 339 shares during the last quarter. Duality Advisers LP grew its holdings in shares of Pegasystems by 2.7% in the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock valued at $885,000 after purchasing an additional 363 shares during the period. Parkside Financial Bank & Trust increased its position in Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Finally, Swiss National Bank raised its stake in Pegasystems by 0.5% during the first quarter. Swiss National Bank now owns 82,500 shares of the technology company’s stock worth $5,333,000 after purchasing an additional 400 shares during the period. 46.89% of the stock is currently 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.