Pegasystems (NASDAQ:PEGA) Price Target Raised to $74.00

Pegasystems (NASDAQ:PEGA) had its price objective lifted by Barclays from $69.00 to $74.00 in a report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

PEGA has been the topic of a number of other research reports. The Goldman Sachs Group boosted their price objective on Pegasystems from $70.00 to $78.00 and gave the stock a neutral rating in a research note on Friday. JMP Securities reaffirmed a market perform rating on shares of Pegasystems in a research note on Wednesday, June 12th. DA Davidson upped their price target on Pegasystems from $60.00 to $70.00 and gave the company a neutral rating in a research report on Friday. Citigroup decreased their price objective on Pegasystems from $87.00 to $82.00 and set a buy rating for the company in a research report on Wednesday, June 26th. Finally, Wedbush reiterated an outperform rating and issued a $90.00 target price on shares of Pegasystems in a report on Wednesday, June 12th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Pegasystems has a consensus rating of Moderate Buy and an average target price of $79.86.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $66.88 on Friday. Pegasystems has a 1-year low of $37.66 and a 1-year high of $71.27. The company has a market capitalization of $5.71 billion, a P/E ratio of 81.56 and a beta of 1.08. The business’s fifty day moving average price is $59.41 and its two-hundred day moving average price is $58.82.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. The business had revenue of $351.20 million for the quarter, compared to analysts’ expectations of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.41) earnings per share. On average, research analysts expect that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Monday, July 1st. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Insider Activity

In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.39, for a total value of $120,780.00. Following the transaction, the chief financial officer now owns 22,884 shares in the company, valued at $1,381,964.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Pegasystems news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $60.34, for a total value of $45,375.68. Following the completion of the sale, the insider now owns 39,188 shares of the company’s stock, valued at $2,364,603.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $60.39, for a total value of $120,780.00. Following the sale, the chief financial officer now owns 22,884 shares of the company’s stock, valued at approximately $1,381,964.76. The disclosure for this sale can be found here. Insiders sold a total of 17,504 shares of company stock worth $1,069,794 in the last three months. 50.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PEGA. Norges Bank acquired a new position in Pegasystems during the fourth quarter valued at approximately $22,784,000. Vanguard Group Inc. grew its stake in Pegasystems by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock valued at $217,229,000 after buying an additional 310,242 shares during the last quarter. Boston Partners acquired a new position in Pegasystems in the 4th quarter valued at $11,958,000. Acadian Asset Management LLC raised its holdings in Pegasystems by 77.8% in the 1st quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after acquiring an additional 218,599 shares during the period. Finally, Ranger Investment Management L.P. lifted its position in Pegasystems by 29.9% during the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after acquiring an additional 143,986 shares during the last quarter. 46.89% of the stock is owned by 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.