Analysts Set Pegasystems Inc. (NASDAQ:PEGA) PT at $85.90

Shares of Pegasystems Inc. (NASDAQ:PEGA) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $85.90.

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

Pegasystems Stock Down 0.5 %

Shares of NASDAQ:PEGA opened at $94.48 on Tuesday. Pegasystems has a twelve month low of $44.07 and a twelve month high of $97.00. The stock’s 50 day moving average is $80.60 and its 200-day moving average is $69.29. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 68.96 and a beta of 1.09.

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

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s dividend payout ratio is currently 8.76%.

Insider Buying and Selling

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of Pegasystems stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.07, for a total value of $80,070.00. Following the completion of the sale, the insider now owns 47,119 shares of the company’s stock, valued at approximately $3,772,818.33. This trade represents a 2.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,663 shares of company stock valued at $1,407,422. 50.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently bought and sold shares of PEGA. True Wealth Design LLC purchased a new position in shares of Pegasystems in the third quarter valued at $27,000. Versant Capital Management Inc grew its holdings in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after buying an additional 756 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after buying an additional 216 shares during the period. Financial Management Professionals Inc. bought a new position in shares of Pegasystems in the third quarter valued at approximately $57,000. Finally, Capital Performance Advisors LLP purchased a new position in Pegasystems during the third quarter valued at approximately $67,000. 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.