Pegasystems Inc. (NASDAQ:PEGA) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Pegasystems Inc. (NASDAQ:PEGA) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $47.40.

A number of equities research analysts recently commented on the stock. William Blair downgraded shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $47.00 target price (down from $54.00) on shares of Pegasystems in a research note on Thursday, September 17th. DA Davidson cut Pegasystems from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a report on Monday, September 28th. Royal Bank Of Canada set a $35.00 price target on Pegasystems and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised Pegasystems from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 22nd.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $35.49 on Friday. The stock has a fifty day moving average price of $34.45 and a 200 day moving average price of $34.79. Pegasystems has a 1-year low of $25.10 and a 1-year high of $68.10. The company has a market cap of $5.83 billion, a PE ratio of 20.05 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data 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 analysts’ expectations of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. Analysts anticipate that Pegasystems will post 1.69 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, October 1st. Pegasystems’s payout ratio is presently 6.78%.

Insider Activity at Pegasystems

In other news, Director Dianne Ledingham sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. Following the transaction, the director directly owned 39,280 shares of the company’s stock, valued at $1,492,640. This represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerim Akgonul sold 7,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $36.03, for a total transaction of $252,210.00. Following the completion of the transaction, the insider owned 104,804 shares of the company’s stock, valued at $3,776,088.12. This represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,672 shares of company stock valued at $1,921,657. Company insiders own 48.40% of the company’s stock.

Institutional Trading of Pegasystems

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Pegasystems by 21.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,597 shares of the technology company’s stock valued at $53,000 after buying an additional 284 shares during the last quarter. State of Michigan Retirement System boosted its position in Pegasystems by 1.4% during the first quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock worth $936,000 after acquiring an additional 300 shares during the last quarter. Diversified Trust Co boosted its position in Pegasystems by 3.2% during the first quarter. Diversified Trust Co now owns 11,364 shares of the technology company’s stock worth $484,000 after acquiring an additional 350 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Pegasystems by 2.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,700 shares of the technology company’s stock worth $796,000 after acquiring an additional 400 shares during the period. Finally, State of Wyoming grew its stake in Pegasystems by 3.4% in the 1st quarter. State of Wyoming now owns 12,709 shares of the technology company’s stock worth $541,000 after acquiring an additional 423 shares during the period. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

About Pegasystems

Pegasystems Inc is an enterprise software company that develops applications for customer engagement, business process management and workflow automation. Its software is designed to help organizations manage complex operations, improve customer service and automate decision-making across departments and channels.

The company’s product portfolio includes Pega Platform, a low-code application development and process automation platform, as well as solutions for customer relationship management, customer service, sales automation, marketing, fraud detection and case management.