Pegasystems (NASDAQ:PEGA) Price Target Raised to $126.00

Pegasystems (NASDAQ:PEGA) had its price objective raised by KeyCorp from $112.00 to $126.00 in a research note issued to investors on Wednesday, AnalystRatings.com reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also issued reports on PEGA. Wedbush boosted their price target on Pegasystems from $96.00 to $104.00 and gave the company an outperform rating in a research note on Thursday, April 30th. Goldman Sachs Group boosted their price target on Pegasystems from $105.00 to $119.00 in a research note on Monday, June 29th. JMP Securities boosted their price target on Pegasystems from $109.00 to $126.00 and gave the company an outperform rating in a research note on Wednesday. BidaskClub lowered Pegasystems from a strong-buy rating to a buy rating in a research note on Wednesday, July 15th. Finally, Sidoti initiated coverage on Pegasystems in a research report on Tuesday, April 14th. They set a buy rating and a $116.00 target price on the stock. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $117.44.

Shares of PEGA stock opened at $116.89 on Wednesday. Pegasystems has a one year low of $38.01 and a one year high of $117.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.72 and a quick ratio of 2.90. The business’s 50 day simple moving average is $99.83 and its 200 day simple moving average is $88.20. The stock has a market capitalization of $9.40 billion, a PE ratio of -123.04 and a beta of 1.28.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.06). Pegasystems had a negative net margin of 7.66% and a negative return on equity of 16.83%. The business had revenue of $227.38 million during the quarter, compared to analyst estimates of $225.77 million. During the same period last year, the firm posted ($0.30) earnings per share. Pegasystems’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts expect that Pegasystems will post -1.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 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 0.10%. The ex-dividend date was Tuesday, June 30th. Pegasystems’s payout ratio is -9.60%.

In related news, SVP Douglas I. Kra sold 6,810 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $83.72, for a total value of $570,133.20. Following the completion of the sale, the senior vice president now directly owns 52,160 shares of the company’s stock, valued at approximately $4,366,835.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Jones sold 5,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $93.62, for a total value of $468,100.00. Following the completion of the sale, the director now directly owns 15,544 shares of the company’s stock, valued at $1,455,229.28. The disclosure for this sale can be found here. Insiders have sold 16,534 shares of company stock worth $1,507,039 over the last ninety days. 51.89% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEGA. Lenox Wealth Advisors LLC purchased a new stake in Pegasystems in the 2nd quarter valued at $25,000. Exchange Traded Concepts LLC purchased a new stake in Pegasystems in the 2nd quarter valued at $33,000. Signaturefd LLC bought a new position in Pegasystems in the 1st quarter valued at $34,000. Asset Management One Co. Ltd. bought a new position in Pegasystems in the 1st quarter valued at $34,000. Finally, Pacifica Partners Inc. bought a new position in Pegasystems in the 1st quarter valued at $36,000. 48.30% of the stock is owned by institutional investors and hedge funds.

About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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