Analysts Set Pegasystems Inc. (NASDAQ:PEGA) Price Target at $85.90

Shares of Pegasystems Inc. (NASDAQ:PEGA) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $85.90.

Several analysts have issued reports on PEGA shares. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. Wedbush lifted their target price on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Wednesday, July 31st. DA Davidson lifted their price objective on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their target price on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $71.00, for a total value of $53,250.00. Following the completion of the sale, the chief accounting officer now owns 2 shares of the company’s stock, valued at $142. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $71.00, for a total transaction of $53,250.00. Following the transaction, the chief accounting officer now owns 2 shares in the company, valued at $142. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Jones sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $69.88, for a total transaction of $698,800.00. Following the completion of the transaction, the director now directly owns 357,058 shares of the company’s stock, valued at approximately $24,951,213.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,565 shares of company stock worth $2,998,565. 50.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Optimist Retirement Group LLC raised its holdings in Pegasystems by 5.0% in the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock worth $208,000 after purchasing an additional 165 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Pegasystems by 5.4% in the 3rd quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock worth $300,000 after acquiring an additional 211 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares during the period. Headlands Technologies LLC boosted its stake in Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after acquiring an additional 260 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Pegasystems by 2.3% in the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock worth $711,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Stock Performance

NASDAQ PEGA opened at $84.31 on Friday. Pegasystems has a 52-week low of $44.00 and a 52-week high of $84.42. The company has a fifty day moving average of $72.20 and a 200-day moving average of $65.36. The company has a market capitalization of $7.23 billion, a P/E ratio of 61.54 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, analysts forecast that Pegasystems will post 1.61 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is currently 8.76%.

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.