Pegasystems Inc. (NASDAQ:PEGA) Receives $61.83 Average Price Target from Brokerages

Pegasystems Inc. (NASDAQ:PEGA) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $61.8333.

PEGA has been the subject of a number of research analyst reports. DA Davidson lifted their price target on shares of Pegasystems from $50.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Barclays lifted their price target on shares of Pegasystems from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. JMP Securities lifted their price target on shares of Pegasystems from $55.00 to $62.50 and gave the stock a “market outperform” rating in a research note on Tuesday, June 3rd. Finally, Loop Capital boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 24th.

Pegasystems Stock Up 0.6%

PEGA opened at $58.66 on Monday. The firm’s 50 day moving average is $55.76 and its 200-day moving average is $48.68. The firm has a market capitalization of $10.04 billion, a P/E ratio of 50.35 and a beta of 1.08. Pegasystems has a 52-week low of $29.84 and a 52-week high of $61.00.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $384.51 million during the quarter, compared to analyst estimates of $345.07 million. Pegasystems had a net margin of 13.14% and a return on equity of 42.42%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Equities analysts expect that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems’s payout ratio is presently 10.34%.

Insider Activity

In other Pegasystems news, CAO Efstathios A. Kouninis sold 2,544 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $59.00, for a total transaction of $150,096.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alan Trefler sold 45,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $58.22, for a total transaction of $2,619,900.00. Following the transaction, the chairman directly owned 45,024,364 shares of the company’s stock, valued at approximately $2,621,318,472.08. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,607 shares of company stock valued at $10,255,134 over the last quarter. 50.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC boosted its holdings in shares of Pegasystems by 58.7% during the second quarter. Corient Private Wealth LLC now owns 28,008 shares of the technology company’s stock valued at $1,516,000 after acquiring an additional 10,358 shares during the period. Texas Permanent School Fund Corp acquired a new position in shares of Pegasystems during the second quarter valued at $1,123,000. Osaic Holdings Inc. boosted its holdings in shares of Pegasystems by 195.4% during the second quarter. Osaic Holdings Inc. now owns 8,761 shares of the technology company’s stock valued at $481,000 after acquiring an additional 5,795 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in Pegasystems by 174.5% in the second quarter. Orion Porfolio Solutions LLC now owns 25,377 shares of the technology company’s stock worth $1,374,000 after purchasing an additional 16,133 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Pegasystems by 85.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,901,978 shares of the technology company’s stock worth $102,897,000 after purchasing an additional 874,686 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

About Pegasystems

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.