Pegasystems Inc. (NASDAQ:PEGA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Pegasystems Inc. (NASDAQ:PEGA) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $73.50.

A number of equities analysts have commented on the company. Barclays lifted their price target on Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Rosenblatt Securities reissued a “buy” rating and issued a $75.00 price target on shares of Pegasystems in a report on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price objective on shares of Pegasystems in a research note on Tuesday, June 11th. Citigroup cut their target price on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Pegasystems in a research report on Wednesday, June 12th.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $59.78, for a total transaction of $119,560.00. Following the completion of the transaction, the chief financial officer now directly owns 22,197 shares of the company’s stock, valued at approximately $1,326,936.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $59.78, for a total transaction of $119,560.00. Following the completion of the transaction, the chief financial officer now owns 22,197 shares of the company’s stock, valued at approximately $1,326,936.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard H. Jones sold 10,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $60.88, for a total value of $608,800.00. Following the completion of the sale, the director now directly owns 369,658 shares in the company, valued at $22,504,779.04. The disclosure for this sale can be found here. Insiders have sold 16,504 shares of company stock valued at $999,794 in the last three months. 50.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Pegasystems by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock worth $217,229,000 after acquiring an additional 310,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Pegasystems by 3.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after purchasing an additional 31,925 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Pegasystems by 272.4% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 19,178 shares of the technology company’s stock worth $937,000 after purchasing an additional 14,028 shares during the last quarter. Bares Capital Management Inc. lifted its holdings in shares of Pegasystems by 1.6% during the fourth quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock valued at $286,434,000 after purchasing an additional 90,993 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Pegasystems during the fourth quarter valued at $22,784,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Stock Performance

PEGA stock opened at $58.44 on Friday. The firm has a market cap of $4.97 billion, a P/E ratio of 71.27 and a beta of 1.08. The firm’s fifty day moving average is $59.62 and its 200 day moving average is $57.44. Pegasystems has a 52 week low of $37.66 and a 52 week high of $69.26.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $330.15 million for the quarter, compared to the consensus estimate of $339.70 million. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. As a group, analysts forecast that Pegasystems will post 1.5 EPS for the current year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Monday, July 1st. Pegasystems’s dividend payout ratio is currently 14.63%.

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.