Barclays Issues Positive Forecast for Pegasystems (NASDAQ:PEGA) Stock Price

Pegasystems (NASDAQ:PEGA) had its price target hoisted by Barclays from $82.00 to $103.00 in a report released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

Several other analysts have also recently weighed in on PEGA. KeyCorp restated an “overweight” rating and set a $118.00 price objective on shares of Pegasystems in a research report on Tuesday, January 14th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada raised their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Wedbush raised their price objective 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. Finally, Citigroup raised their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.82.

Pegasystems Price Performance

NASDAQ PEGA opened at $108.29 on Friday. Pegasystems has a 1 year low of $47.82 and a 1 year high of $113.67. The stock has a market capitalization of $9.29 billion, a PE ratio of 79.04 and a beta of 1.09. The company’s 50 day simple moving average is $97.43 and its two-hundred day simple moving average is $80.80.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Thursday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insiders Place Their Bets

In other news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the sale, the chief financial officer now owns 16,466 shares of the company’s stock, valued at approximately $1,547,804. The trade was a 10.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of Pegasystems stock in a transaction dated Tuesday, November 5th. The shares were 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. Insiders have sold a total of 12,531 shares of company stock valued at $1,178,650 in the last quarter. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Pegasystems by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company’s stock valued at $59,895,000 after purchasing an additional 25,901 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Pegasystems by 0.6% during the third quarter. Fisher Asset Management LLC now owns 484,296 shares of the technology company’s stock valued at $35,397,000 after purchasing an additional 3,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Pegasystems by 266.8% during the second quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock valued at $23,641,000 after purchasing an additional 284,095 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Pegasystems by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company’s stock worth $23,566,000 after purchasing an additional 11,102 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Pegasystems by 82.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,058 shares of the technology company’s stock worth $16,556,000 after buying an additional 80,495 shares during the last quarter. 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.