Brokerages Set Pegasystems Inc. (NASDAQ:PEGA) Target Price at $99.36

Shares of Pegasystems Inc. (NASDAQ:PEGA) have been given an average rating of “Moderate Buy” by the twelve analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $99.36.

PEGA has been the topic of several recent research reports. Rosenblatt Securities increased their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. StockNews.com downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada raised their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup increased their price target on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of Pegasystems in a research report on Thursday, February 13th.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $72.19 on Monday. Pegasystems has a 1 year low of $54.55 and a 1 year high of $113.67. The company has a market cap of $6.20 billion, a P/E ratio of 71.48 and a beta of 1.25. The stock’s fifty day moving average price is $85.29 and its 200-day moving average price is $85.74.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, sell-side analysts anticipate that Pegasystems will post 1.89 earnings per share for the current year.

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.015 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.06 annualized dividend and a yield of 0.08%. Pegasystems’s payout ratio is currently 11.88%.

Insider Activity

In related news, CFO Kenneth Stillwell sold 7,742 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $84.72, for a total value of $655,902.24. Following the sale, the chief financial officer now directly owns 14,466 shares of the company’s stock, valued at $1,225,559.52. This represents a 34.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alan Trefler sold 31,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $77.38, for a total value of $2,437,470.00. Following the transaction, the chairman now owns 17,308,786 shares of the company’s stock, valued at $1,339,353,860.68. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,791 shares of company stock valued at $5,995,054 in the last ninety days. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Large investors have recently bought and sold shares of the business. Principal Securities Inc. boosted its stake in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock valued at $26,000 after purchasing an additional 167 shares during the period. True Wealth Design LLC bought a new stake in Pegasystems during the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its position in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after buying an additional 149 shares during the period. Proficio Capital Partners LLC bought a new position in Pegasystems in the 4th quarter worth about $61,000. Finally, Global Retirement Partners LLC grew its stake in Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after acquiring an additional 256 shares in the last quarter. Hedge funds and other 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.