Analysts Set Pegasystems Inc. (NASDAQ:PEGA) Price Target at $73.50

Pegasystems Inc. (NASDAQ:PEGA) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $73.50.

PEGA has been the subject of several research analyst reports. Citigroup cut their target price on shares of Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. JMP Securities reiterated a “market perform” rating on shares of Pegasystems in a research note on Wednesday, June 12th. DA Davidson restated a “neutral” rating and set a $60.00 price target on shares of Pegasystems in a research note on Monday, March 4th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a report on Wednesday, June 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $77.00 price objective on shares of Pegasystems in a report on Tuesday, June 11th.

Insider Activity

In related news, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $60.88, for a total transaction of $608,800.00. Following the completion of the sale, the director now directly owns 369,658 shares of the company’s stock, valued at approximately $22,504,779.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $60.34, for a total value of $45,375.68. Following the completion of the sale, the insider now directly owns 39,188 shares of the company’s stock, valued at approximately $2,364,603.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $60.88, for a total value of $608,800.00. Following the completion of the transaction, the director now owns 369,658 shares in the company, valued at approximately $22,504,779.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,752 shares of company stock worth $834,956. Corporate insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bares Capital Management Inc. raised its stake in shares of Pegasystems by 1.6% during the fourth quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock worth $286,434,000 after buying an additional 90,993 shares during the last quarter. Vanguard Group Inc. grew its holdings in Pegasystems by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock worth $347,067,000 after acquiring an additional 250,273 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Pegasystems by 3.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after acquiring an additional 31,925 shares during the period. Ranger Investment Management L.P. grew its holdings in Pegasystems by 29.9% during the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after acquiring an additional 143,986 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Pegasystems by 77.8% in the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock valued at $32,273,000 after purchasing an additional 218,599 shares during the period. 46.89% of the stock is owned by institutional investors.

Pegasystems Trading Down 2.0 %

NASDAQ PEGA opened at $59.27 on Friday. The company has a market cap of $5.04 billion, a P/E ratio of 72.28 and a beta of 1.08. Pegasystems has a 1 year low of $37.66 and a 1 year high of $69.26. The company has a fifty day simple moving average of $59.61 and a 200 day simple moving average of $57.32.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The business had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. Equities research analysts forecast that Pegasystems will post 1.5 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.20%. Pegasystems’s dividend payout ratio is currently 14.63%.

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.