Pegasystems (NASDAQ:PEGA) Price Target Raised to $115.00

Pegasystems (NASDAQ:PEGA) had its price target raised by Rosenblatt Securities from $95.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

PEGA has been the topic of a number of other reports. Barclays raised their target price on shares of Pegasystems from $82.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Wedbush raised their target price on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. KeyCorp reaffirmed an “overweight” rating and set a $118.00 target price on shares of Pegasystems in a research report on Tuesday, January 14th. Citigroup raised their target price on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.91.

Pegasystems Trading Down 19.6 %

Shares of NASDAQ:PEGA opened at $85.28 on Tuesday. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 62.25 and a beta of 1.11. Pegasystems has a 12 month low of $48.51 and a 12 month high of $113.67. The firm’s 50-day moving average is $99.51 and its 200 day moving average is $83.73.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. As a group, equities analysts forecast that Pegasystems will post 1.63 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. Pegasystems’s dividend payout ratio is presently 11.88%.

Insider Activity at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total value of $70,560.16. Following the completion of the transaction, the insider now owns 37,973 shares of the company’s stock, valued at approximately $3,563,006.59. The trade was a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $105.63, for a total transaction of $211,260.00. Following the sale, the chief financial officer now directly owns 14,466 shares of the company’s stock, valued at $1,528,043.58. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,003 shares of company stock worth $1,346,086 over the last three months. Company insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Securities Inc. increased its stake in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Pegasystems during the third quarter worth about $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after purchasing an additional 149 shares in the last quarter. Venturi Wealth Management LLC increased its stake 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 worth $48,000 after purchasing an additional 216 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Pegasystems during the third quarter worth about $57,000. Hedge funds and other 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.