Pegasystems (NASDAQ:PEGA) Price Target Cut to $94.00 by Analysts at KeyCorp

Pegasystems (NASDAQ:PEGA) had its price objective decreased by KeyCorp from $118.00 to $94.00 in a research note published on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Barclays lowered their price objective on Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Citigroup lifted their price target on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and set a $110.00 price objective on shares of Pegasystems in a research report on Thursday, February 13th. Royal Bank of Canada lifted their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, DA Davidson dropped their target price on shares of Pegasystems from $90.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.18.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $68.01 on Wednesday. Pegasystems has a 1 year low of $54.55 and a 1 year high of $113.67. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 67.34 and a beta of 1.22. The company has a 50-day moving average of $75.51 and a 200 day moving average of $85.30.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, equities analysts anticipate that Pegasystems will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.09%. Pegasystems’s payout ratio is 11.88%.

Insider Buying and Selling

In related news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total value of $211,260.00. Following the transaction, the chief financial officer now owns 14,466 shares of the company’s stock, valued at approximately $1,528,043.58. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the sale, the chairman now directly owns 17,308,786 shares of the company’s stock, valued at approximately $1,339,353,860.68. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,791 shares of company stock valued at $6,134,554 over the last 90 days. Company insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC raised its stake in shares of Pegasystems by 4.9% in the fourth quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company’s stock worth $435,000 after buying an additional 219 shares during the period. Global Retirement Partners LLC raised its stake in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after acquiring an additional 256 shares during the period. Principal Financial Group Inc. lifted its holdings in Pegasystems by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company’s stock valued at $372,000 after purchasing an additional 354 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in Pegasystems by 32.8% during the fourth quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company’s stock valued at $1,513,000 after purchasing an additional 4,011 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Pegasystems by 1.2% in the fourth quarter. Swiss National Bank now owns 84,000 shares of the technology company’s stock worth $7,829,000 after purchasing an additional 1,000 shares during the period. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

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.