Analysts Set Pegasystems Inc. (NASDAQ:PEGA) Target Price at $63.30

Shares of Pegasystems Inc. (NASDAQ:PEGA) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $63.30.

Several brokerages have recently issued reports on PEGA. DA Davidson restated a “buy” rating and issued a $55.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Citizens Jmp reiterated a “market outperform” rating and issued a $58.00 price target on shares of Pegasystems in a report on Wednesday, June 10th. Citigroup reissued a “market outperform” rating on shares of Pegasystems in a research report on Wednesday, June 10th. Finally, Weiss Ratings cut shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the sale, the insider directly owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.75, for a total value of $26,062.50. Following the sale, the chief accounting officer directly owned 2,894 shares in the company, valued at $100,566.50. This represents a 20.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,795 shares of company stock valued at $229,613. 48.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fisher Asset Management LLC lifted its holdings in Pegasystems by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after acquiring an additional 33,643 shares during the period. Norges Bank acquired a new stake in shares of Pegasystems during the 4th quarter worth approximately $31,905,000. Allspring Global Investments Holdings LLC grew its stake in shares of Pegasystems by 117.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock worth $34,427,000 after purchasing an additional 439,417 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Pegasystems by 259.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company’s stock valued at $26,144,000 after purchasing an additional 296,916 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Pegasystems by 58.6% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 137,302 shares of the technology company’s stock valued at $5,844,000 after purchasing an additional 50,716 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Price Performance

NASDAQ PEGA opened at $30.94 on Friday. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 16.63 and a beta of 0.87. The stock’s fifty day moving average price is $32.55 and its 200 day moving average price is $40.24. Pegasystems has a 1 year low of $28.66 and a 1 year high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The firm had revenue of $420.72 million for the quarter, compared to analyst estimates of $427.38 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.During the same period in the prior year, the firm posted $0.28 EPS. Research analysts expect that Pegasystems will post 1.93 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) is 6.45%.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.