Pegasystems (NASDAQ:PEGA) PT Raised to $90.00 at Rosenblatt Securities

Pegasystems (NASDAQ:PEGA) had its target price hoisted by Rosenblatt Securities from $75.00 to $90.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on PEGA. Wedbush reaffirmed an outperform rating and set a $90.00 target price on shares of Pegasystems in a research note on Monday, July 29th. JMP Securities raised Pegasystems from a market perform rating to an outperform rating and set a $85.00 price objective for the company in a research report on Wednesday. Barclays boosted their target price on Pegasystems from $69.00 to $74.00 and gave the stock an equal weight rating in a report on Friday, July 26th. The Goldman Sachs Group raised their price target on Pegasystems from $70.00 to $78.00 and gave the company a neutral rating in a report on Friday, July 26th. Finally, DA Davidson upped their price target on shares of Pegasystems from $60.00 to $70.00 and gave the stock a neutral rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $82.60.

Pegasystems Stock Down 2.0 %

NASDAQ PEGA opened at $67.03 on Wednesday. The firm has a market capitalization of $5.73 billion, a PE ratio of 81.74 and a beta of 1.08. The stock’s 50 day moving average is $60.08 and its 200 day moving average is $59.65. Pegasystems has a twelve month low of $37.66 and a twelve month high of $72.74.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. The firm 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 quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.41) EPS. On average, research analysts anticipate that Pegasystems will post 1.55 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend was Monday, July 1st. Pegasystems’s dividend payout ratio is currently 14.63%.

Insiders Place Their Bets

In other news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the transaction, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at approximately $54,211.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the sale, the chief accounting officer now directly owns 752 shares in the company, valued at approximately $54,211.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,211.68. Following the completion of the transaction, the insider now owns 38,412 shares in the company, valued at approximately $2,769,121.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,254 shares of company stock valued at $403,117. Company insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds have recently modified their holdings of PEGA. Norges Bank bought a new stake in Pegasystems during the fourth quarter valued at about $22,784,000. Vanguard Group Inc. increased its holdings in Pegasystems by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock worth $347,067,000 after acquiring an additional 250,273 shares in the last quarter. Boston Partners bought a new stake in Pegasystems during the 4th quarter worth approximately $11,958,000. Acadian Asset Management LLC lifted its holdings in Pegasystems by 77.8% during the first quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock valued at $32,273,000 after purchasing an additional 218,599 shares in the last quarter. Finally, Ranger Investment Management L.P. increased its stake in shares of Pegasystems by 29.9% in the fourth quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock worth $30,561,000 after purchasing an additional 143,986 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

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.