Barclays Trims Pegasystems (NASDAQ:PEGA) Target Price to $110.00

Pegasystems (NASDAQ:PEGA) had its price target decreased by Barclays from $140.00 to $110.00 in a report published on Wednesday morning, The Fly reports.

Shares of PEGA opened at $99.53 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 1.28. Pegasystems has a twelve month low of $94.47 and a twelve month high of $148.80. The company has a 50 day moving average of $111.83 and a 200-day moving average of $124.64.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, October 27th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.13). Pegasystems had a negative net margin of 1.82% and a negative return on equity of 12.96%. The business had revenue of $256.27 million for the quarter, compared to analyst estimates of $275.32 million. During the same period in the prior year, the business earned ($0.60) EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts predict that Pegasystems will post -0.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 17th. Stockholders of record on Monday, January 3rd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Friday, December 31st. Pegasystems’s dividend payout ratio is currently -41.38%.

In other news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction dated Wednesday, December 1st. The stock was sold at an average price of $112.50, for a total transaction of $112,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 500 shares of Pegasystems stock in a transaction dated Friday, December 17th. The shares were sold at an average price of $106.00, for a total value of $53,000.00. The disclosure for this sale can be found here. Insiders have sold 2,931 shares of company stock valued at $333,975 in the last three months. Insiders own 50.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in PEGA. Advisor Group Holdings Inc. lifted its stake in Pegasystems by 39.3% in the second quarter. Advisor Group Holdings Inc. now owns 6,033 shares of the technology company’s stock valued at $841,000 after buying an additional 1,703 shares during the period. HighTower Advisors LLC increased its holdings in shares of Pegasystems by 3.8% during the second quarter. HighTower Advisors LLC now owns 8,395 shares of the technology company’s stock valued at $1,165,000 after acquiring an additional 308 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Pegasystems by 21.1% during the second quarter. First Mercantile Trust Co. now owns 1,058 shares of the technology company’s stock valued at $147,000 after acquiring an additional 184 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Pegasystems during the second quarter valued at approximately $229,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Pegasystems by 3.4% during the second quarter. Principal Financial Group Inc. now owns 4,385 shares of the technology company’s stock valued at $610,000 after acquiring an additional 143 shares in the last quarter. 47.78% of the stock is currently owned by hedge funds and other institutional investors.

About Pegasystems

Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. The company was founded by Alan Trefler in 1983 and is headquartered in Cambridge, MA.

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