Pegasystems (NASDAQ:PEGA) Rating Reiterated by Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a research note released on Tuesday morning, Benzinga reports. They currently have a $75.00 price target on the technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Pegasystems from a buy rating to a strong-buy rating in a report on Tuesday, February 13th. DA Davidson reiterated a neutral rating and issued a $60.00 price target on shares of Pegasystems in a research report on Monday, March 4th. The Goldman Sachs Group boosted their price objective on Pegasystems from $50.00 to $70.00 and gave the stock a neutral rating in a report on Friday, February 16th. Wedbush restated an outperform rating and set a $90.00 price objective on shares of Pegasystems in a report on Wednesday, April 10th. Finally, TheStreet upgraded Pegasystems from a d+ rating to a c rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $72.33.

Pegasystems Stock Performance

Shares of PEGA opened at $61.80 on Tuesday. Pegasystems has a 1 year low of $37.66 and a 1 year high of $69.26. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 75.37 and a beta of 1.06. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a fifty day moving average of $62.83 and a 200-day moving average of $53.12.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.64. The business had revenue of $474.23 million during the quarter, compared to the consensus estimate of $428.76 million. Pegasystems had a net margin of 5.32% and a return on equity of 53.49%. As a group, equities analysts anticipate that Pegasystems will post 1.49 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. Pegasystems’s dividend payout ratio is 14.63%.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 395 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total value of $25,576.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the sale, the chief financial officer now owns 24,535 shares of the company’s stock, valued at $1,549,875.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 395 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total value of $25,576.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,792 shares of company stock valued at $2,781,669. 50.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pegasystems

Large investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its holdings in shares of Pegasystems by 116.8% during the first quarter. New York State Teachers Retirement System now owns 3,786 shares of the technology company’s stock worth $245,000 after buying an additional 2,040 shares during the last quarter. Range Financial Group LLC acquired a new position in shares of Pegasystems in the first quarter valued at $209,000. FCF Advisors LLC acquired a new position in shares of Pegasystems in the first quarter valued at $1,497,000. Los Angeles Capital Management LLC raised its stake in shares of Pegasystems by 0.6% in the first quarter. Los Angeles Capital Management LLC now owns 327,107 shares of the technology company’s stock valued at $21,144,000 after purchasing an additional 1,979 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Pegasystems in the fourth quarter valued at $169,000. 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.