Brokerages Set Pegasystems Inc. (PEGA) Target Price at $74.33

Pegasystems Inc. (NASDAQ:PEGA) has earned a consensus rating of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $74.33.

A number of equities research analysts recently issued reports on the company. BidaskClub upgraded Pegasystems from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. Wedbush reiterated an “outperform” rating and issued a $84.00 price objective (up previously from $80.00) on shares of Pegasystems in a research report on Wednesday, February 27th. ValuEngine upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 30th. Finally, Zacks Investment Research upgraded Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price objective on the stock in a research report on Tuesday, February 19th.

Shares of NASDAQ:PEGA traded down $1.59 during trading on Thursday, hitting $63.74. 279,357 shares of the company were exchanged, compared to its average volume of 496,790. The company has a market cap of $5.00 billion, a P/E ratio of 3,187.00 and a beta of 1.39. Pegasystems has a 52-week low of $43.21 and a 52-week high of $67.95.



Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, February 20th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.20. Pegasystems had a return on equity of 0.34% and a net margin of 1.19%. The firm had revenue of $256.36 million for the quarter, compared to the consensus estimate of $252.71 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts forecast that Pegasystems will post -0.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%.

In related news, Director Richard H. Jones sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.89, for a total value of $1,622,250.00. Following the transaction, the director now owns 297,537 shares of the company’s stock, valued at $19,307,175.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 465 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $65.50, for a total value of $30,457.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,527 shares in the company, valued at approximately $100,018.50. The disclosure for this sale can be found here. Insiders sold 57,006 shares of company stock worth $3,586,498 in the last quarter. 52.85% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Pegasystems by 6.7% in the third quarter. FMR LLC now owns 1,000,499 shares of the technology company’s stock valued at $62,631,000 after acquiring an additional 62,385 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Pegasystems by 10.8% in the third quarter. TIAA CREF Investment Management LLC now owns 177,381 shares of the technology company’s stock valued at $11,104,000 after acquiring an additional 17,356 shares during the last quarter. Quantbot Technologies LP bought a new position in Pegasystems in the third quarter valued at $122,000. Crestline Management LP increased its stake in Pegasystems by 34.8% in the third quarter. Crestline Management LP now owns 110,093 shares of the technology company’s stock valued at $6,892,000 after acquiring an additional 28,449 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in Pegasystems by 92.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 11,044 shares of the technology company’s stock valued at $528,000 after acquiring an additional 5,300 shares during the last quarter. 47.50% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.

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