Brokerages Set Pegasystems Inc. (NASDAQ:PEGA) Price Target at $69.61

Shares of Pegasystems Inc. (NASDAQ:PEGA) have received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $69.6111.

Several equities research analysts have recently weighed in on the stock. Wedbush upped their target price on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Weiss Ratings lowered shares of Pegasystems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $80.00 price objective (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Finally, Rosenblatt Securities increased their price target on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd.

Insider Buying and Selling

In other Pegasystems news, Chairman Alan Trefler sold 45,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $60.03, for a total value of $2,701,350.00. Following the completion of the transaction, the chairman directly owned 44,889,364 shares of the company’s stock, valued at approximately $2,694,708,520.92. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Larry Weber sold 2,636 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $56.98, for a total transaction of $150,199.28. Following the sale, the director directly owned 10,632 shares in the company, valued at $605,811.36. This trade represents a 19.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 203,895 shares of company stock valued at $12,179,202 in the last 90 days. 49.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. acquired a new stake in shares of Pegasystems in the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. boosted its stake in shares of Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after purchasing an additional 320 shares during the last quarter. Spire Wealth Management lifted its holdings in Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after buying an additional 414 shares during the period. Hantz Financial Services Inc. boosted its stake in Pegasystems by 321.6% in the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after acquiring an additional 431 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in Pegasystems during the 3rd quarter worth $33,000. Institutional investors own 46.89% of the company’s stock.

Pegasystems Trading Down 4.1%

PEGA stock opened at $56.84 on Tuesday. Pegasystems has a 1-year low of $29.84 and a 1-year high of $68.10. The business’s 50 day moving average is $58.84 and its 200-day moving average is $54.08. The firm has a market cap of $9.65 billion, a P/E ratio of 38.15 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.18 by $0.12. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The business had revenue of $381.35 million during the quarter, compared to the consensus estimate of $351.95 million. During the same quarter last year, the company earned $0.39 EPS. Pegasystems’s revenue was up 17.3% on a year-over-year basis. Sell-side analysts forecast that Pegasystems will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, October 1st. Pegasystems’s dividend payout ratio is presently 8.05%.

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.