Barclays Increases Pegasystems (NASDAQ:PEGA) Price Target to $69.00

Pegasystems (NASDAQ:PEGA) had its target price boosted by Barclays from $66.00 to $69.00 in a research report report published on Friday morning, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. Rosenblatt Securities reissued a buy rating and issued a $75.00 price target on shares of Pegasystems in a report on Tuesday, April 23rd. TheStreet upgraded shares of Pegasystems from a d+ rating to a c rating in a research note on Thursday, February 15th. Wedbush restated an outperform rating and set a $90.00 price target on shares of Pegasystems in a research note on Wednesday, April 10th. The Goldman Sachs Group upped their price target on Pegasystems from $50.00 to $70.00 and gave the company a neutral rating in a report on Friday, February 16th. Finally, Royal Bank of Canada lifted their price objective on Pegasystems from $65.00 to $77.00 and gave the stock an outperform rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $72.33.

Pegasystems Stock Performance

Pegasystems stock opened at $60.83 on Friday. Pegasystems has a 52 week low of $37.66 and a 52 week high of $69.26. The firm has a market capitalization of $5.17 billion, a PE ratio of 74.18 and a beta of 1.06. The business’s 50-day simple moving average is $62.75 and its 200-day simple moving average is $53.40.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $0.78 by $0.64. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The company had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. Research analysts forecast that Pegasystems will post 1.49 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.12 annualized dividend and a yield of 0.20%. Pegasystems’s dividend payout ratio is currently 14.63%.

Insider Activity

In related news, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the transaction, the chief financial officer now directly owns 24,535 shares of the company’s stock, valued at approximately $1,549,875.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Efstathios A. Kouninis sold 395 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $64.75, for a total value of $25,576.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 20,606 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the transaction, the chief financial officer now owns 24,535 shares in the company, valued at approximately $1,549,875.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,792 shares of company stock worth $2,781,669. Corporate insiders own 50.20% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors have recently modified their holdings of PEGA. Quadrant Capital Group LLC grew its stake in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $25,000 after purchasing an additional 226 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Pegasystems by 2.0% in the 3rd quarter. Arizona State Retirement System now owns 11,810 shares of the technology company’s stock valued at $513,000 after buying an additional 228 shares during the period. Quent Capital LLC raised its position in shares of Pegasystems by 1.8% during the fourth quarter. Quent Capital LLC now owns 12,846 shares of the technology company’s stock worth $628,000 after acquiring an additional 228 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after acquiring an additional 364 shares during the period. Finally, CWM LLC boosted its holdings in Pegasystems by 80.1% in the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after acquiring an additional 516 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

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.