Pegasystems Inc. (NASDAQ:PEGA) Receives $63.30 Consensus Price Target from Analysts

Shares of Pegasystems Inc. (NASDAQ:PEGA) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $63.30.

Several equities analysts have recently issued reports on PEGA shares. Zacks Research cut Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. DA Davidson reaffirmed a “buy” rating and issued a $55.00 price target on shares of Pegasystems in a report on Wednesday, June 10th. Weiss Ratings cut Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Pegasystems in a report on Tuesday, June 9th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd.

Pegasystems Stock Performance

Pegasystems stock opened at $30.78 on Wednesday. The business’s 50-day simple moving average is $34.67 and its two-hundred day simple moving average is $43.76. The company has a market cap of $5.14 billion, a PE ratio of 16.55 and a beta of 0.86. Pegasystems has a fifty-two week low of $28.66 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). The firm had revenue of $429.97 million for the quarter, compared to analysts’ expectations of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. As a group, analysts predict that Pegasystems will post 1.93 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, July 1st. Pegasystems’s payout ratio is 6.45%.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the completion of the sale, the chief accounting officer directly owned 2,144 shares in the company, valued at approximately $79,306.56. The trade was a 25.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total value of $151,575.75. Following the sale, the insider owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This trade represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,795 shares of company stock valued at $229,613. 48.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pegasystems

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Pegasystems during the 4th quarter worth approximately $28,000. EFG International AG purchased a new stake in shares of Pegasystems in the fourth quarter valued at approximately $32,000. Fifth Third Bancorp grew its position in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after purchasing an additional 303 shares in the last quarter. Bayforest Capital Ltd grew its position in shares of Pegasystems by 316.6% in the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after purchasing an additional 535 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Pegasystems by 386.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock valued at $42,000 after purchasing an additional 564 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.