Brokerages Set Pegasystems Inc. (NASDAQ:PEGA) Price Target at $74.71

Pegasystems Inc. (NASDAQ:PEGA) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $79.86.

PEGA has been the subject of a number of research reports. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a research note on Wednesday, June 12th. Barclays increased their price target on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday. Rosenblatt Securities reissued a “buy” rating and set a $75.00 price target on shares of Pegasystems in a research note on Tuesday, April 23rd. Citigroup dropped their price target on Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, Royal Bank of Canada raised their price objective on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday.

Insider Transactions at Pegasystems

In other 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 sale, the chief financial officer now directly owns 22,884 shares in the company, valued at $1,381,964.76. The sale was disclosed in a document filed with the SEC, which is available at this link. In other 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 sale, the chief financial officer now directly owns 22,884 shares in the company, valued at $1,381,964.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on 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 in the company, valued at $2,364,603.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,504 shares of company stock worth $460,994. 50.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in Pegasystems by 80.1% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after purchasing an additional 226 shares during the period. Headlands Technologies LLC purchased a new position in shares of Pegasystems in the 4th quarter valued at $26,000. Parkside Financial Bank & Trust increased its holdings in shares of Pegasystems by 219.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after acquiring an additional 364 shares during the period. Versant Capital Management Inc increased its holdings in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Pegasystems in the 4th quarter valued at $44,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Trading Down 3.0 %

NASDAQ:PEGA opened at $66.88 on Wednesday. Pegasystems has a 12-month low of $37.66 and a 12-month high of $71.27. The stock has a 50-day moving average price of $59.41 and a 200 day moving average price of $59.00. The stock has a market capitalization of $5.71 billion, a P/E ratio of 81.56 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $351.20 million during the quarter, compared to analysts’ expectations of $323.55 million. During the same quarter last year, the business posted ($0.41) earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. On average, research analysts predict that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

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