Pegasystems (NASDAQ:PEGA) Given New $95.00 Price Target at Rosenblatt Securities

Pegasystems (NASDAQ:PEGA) had its target price boosted by Rosenblatt Securities from $90.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the technology company’s stock.

Several other equities research analysts have also recently commented on the company. JMP Securities raised Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Wednesday, July 31st. William Blair upgraded Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada lifted their target price on Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Barclays upped their price target on shares of Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, DA Davidson lifted their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $80.30 on Friday. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 58.61 and a beta of 1.07. Pegasystems has a 1 year low of $40.72 and a 1 year high of $82.22. The business has a fifty day moving average of $70.66 and a 200-day moving average of $64.40.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same quarter in the prior year, the firm posted $0.14 EPS. Pegasystems’s revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that Pegasystems will post 1.55 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insider Buying and Selling

In other news, insider Leon Trefler sold 752 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,211.68. Following the completion of the sale, the insider now owns 38,412 shares in the company, valued at $2,769,121.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,211.68. Following the completion of the sale, the insider now directly owns 38,412 shares of the company’s stock, valued at $2,769,121.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the sale, the chief financial officer now owns 17,262 shares of the company’s stock, valued at approximately $1,263,060.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,955 shares of company stock valued at $3,136,247. Company insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Pegasystems by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company’s stock worth $250,113,000 after purchasing an additional 114,848 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Pegasystems by 10.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,008 shares of the technology company’s stock valued at $294,000 after acquiring an additional 579 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Pegasystems in the first quarter valued at approximately $758,000. Duality Advisers LP grew its position in Pegasystems by 2.7% in the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after acquiring an additional 363 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its stake in shares of Pegasystems by 113.2% during the 1st quarter. ClariVest Asset Management LLC now owns 39,569 shares of the technology company’s stock worth $2,558,000 after purchasing an additional 21,008 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

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.