Pegasystems (NASDAQ:PEGA) Reaches New 52-Week High – Here’s Why

Pegasystems Inc. (NASDAQ:PEGA) reached a new 52-week high on Wednesday . The stock traded as high as $97.17 and last traded at $97.09, with a volume of 29252 shares trading hands. The stock had previously closed at $95.51.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Rosenblatt Securities raised their price target on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, October 25th. Citigroup lifted their target price on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Wedbush lifted their target price on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays lifted their target price on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Trading Up 2.2 %

The stock has a market capitalization of $8.37 billion, a P/E ratio of 69.72 and a beta of 1.09. The stock has a 50 day moving average of $81.06 and a 200-day moving average of $69.52.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. Pegasystems’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. Research analysts anticipate that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insider Buying and Selling at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $80.07, for a total value of $80,070.00. Following the completion of the transaction, the insider now directly owns 47,119 shares of the company’s stock, valued at approximately $3,772,818.33. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $72.00, for a total value of $54,144.00. Following the completion of the transaction, the insider now directly owns 38,388 shares of the company’s stock, valued at approximately $2,763,936. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,415 shares of company stock valued at $1,667,761 in the last ninety days. Corporate insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. True Wealth Design LLC bought a new position in shares of Pegasystems in the 3rd quarter worth $27,000. Venturi Wealth Management LLC raised its position in shares of Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after acquiring an additional 216 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in Pegasystems during the 3rd quarter worth $57,000. Capital Performance Advisors LLP purchased a new position in Pegasystems during the 3rd quarter worth $67,000. Finally, Headlands Technologies LLC grew its stake in Pegasystems by 29.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after buying an additional 260 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.