Pegasystems (NASDAQ:PEGA) Price Target Raised to $70.00

Pegasystems (NASDAQ:PEGA) had its target price increased by DA Davidson from $60.00 to $70.00 in a report published on Friday morning, Benzinga reports. DA Davidson currently has a neutral rating on the technology company’s stock. DA Davidson also issued estimates for Pegasystems’ Q3 2024 earnings at $0.15 EPS.

PEGA has been the subject of a number of other research reports. Barclays lifted their target price on shares of Pegasystems from $66.00 to $69.00 and gave the company an equal weight rating in a research note on Friday, April 26th. JMP Securities reissued a market perform rating on shares of Pegasystems in a research note on Wednesday, June 12th. Citigroup lowered their target price on Pegasystems from $87.00 to $82.00 and set a buy rating for the company in a research note on Wednesday, June 26th. Royal Bank of Canada reaffirmed an outperform rating and issued a $77.00 price target on shares of Pegasystems in a report on Tuesday, June 11th. Finally, Rosenblatt Securities reissued a buy rating and set a $75.00 price objective on shares of Pegasystems in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $79.86.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $65.93 on Friday. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 80.40 and a beta of 1.08. The business’s fifty day moving average price is $59.44 and its two-hundred day moving average price is $59.13. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $71.27.

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

Pegasystems Announces Dividend

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

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.39, for a total value of $120,780.00. Following the transaction, the chief financial officer now directly owns 22,884 shares of the company’s stock, valued at $1,381,964.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Sharon T. Rowlands acquired 8,600 shares of Pegasystems stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average price of $58.63 per share, with a total value of $504,218.00. Following the purchase, the director now directly owns 30,871 shares of the company’s stock, valued at $1,809,966.73. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.39, for a total transaction of $120,780.00. Following the completion of the sale, the chief financial officer now owns 22,884 shares in the company, valued at $1,381,964.76. The disclosure for this sale can be found here. Insiders sold a total of 6,752 shares of company stock worth $415,618 in the last quarter. 50.10% of the stock is owned by company insiders.

Institutional Trading of Pegasystems

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Pegasystems by 6.6% in the third quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock valued at $217,229,000 after acquiring an additional 310,242 shares during the period. SG Americas Securities LLC bought a new position in shares of Pegasystems during the 4th quarter valued at about $201,000. Quent Capital LLC grew its position in shares of Pegasystems by 1.8% in the 4th quarter. Quent Capital LLC now owns 12,846 shares of the technology company’s stock valued at $628,000 after purchasing an additional 228 shares during the period. Oak Thistle LLC increased its stake in Pegasystems by 59.1% during the 4th quarter. Oak Thistle LLC now owns 17,202 shares of the technology company’s stock worth $840,000 after purchasing an additional 6,390 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in Pegasystems during the 4th quarter worth approximately $85,000. Institutional investors own 46.89% of the company’s stock.

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.