Pegasystems Inc. (NASDAQ:PEGA) Receives $99.36 Consensus Target Price from Brokerages

Shares of Pegasystems Inc. (NASDAQ:PEGA) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $99.36.

A number of brokerages have weighed in on PEGA. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research note on Thursday, February 13th. KeyCorp reaffirmed an “overweight” rating and issued a $118.00 target price on shares of Pegasystems in a research report on Tuesday, January 14th. Citigroup increased their target price on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities increased their target price on Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, StockNews.com lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th.

Pegasystems Stock Down 1.1 %

Shares of Pegasystems stock opened at $75.98 on Thursday. Pegasystems has a fifty-two week low of $54.55 and a fifty-two week high of $113.67. The firm has a market cap of $6.53 billion, a PE ratio of 75.23 and a beta of 1.25. The business’s fifty day moving average is $94.37 and its two-hundred day moving average is $85.28.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results 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%. Equities research analysts anticipate that Pegasystems will post 1.89 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.16%. The ex-dividend date was Thursday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is presently 11.88%.

Insider Buying and Selling at Pegasystems

In other news, Chairman Alan Trefler sold 31,500 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the completion of the sale, the chairman now directly owns 17,308,786 shares in the company, valued at $1,339,353,860.68. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total value of $70,560.16. Following the sale, the insider now owns 37,973 shares of the company’s stock, valued at $3,563,006.59. This represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,542 shares of company stock valued at $4,490,746 over the last three months. 50.10% of the stock is owned by company insiders.

Institutional Trading of Pegasystems

Large investors have recently modified their holdings of the business. Invesco Ltd. grew its stake in Pegasystems by 189.0% in the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company’s stock worth $220,347,000 after purchasing an additional 1,546,281 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Pegasystems by 23.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 860,361 shares of the technology company’s stock worth $80,188,000 after purchasing an additional 164,986 shares in the last quarter. Geode Capital Management LLC grew its stake in Pegasystems by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 825,762 shares of the technology company’s stock worth $76,983,000 after purchasing an additional 6,480 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Pegasystems by 0.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 807,671 shares of the technology company’s stock worth $75,275,000 after purchasing an additional 4,989 shares in the last quarter. Finally, Shannon River Fund Management LLC grew its stake in Pegasystems by 1.3% in the fourth quarter. Shannon River Fund Management LLC now owns 798,356 shares of the technology company’s stock worth $74,407,000 after purchasing an additional 9,989 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.