Pegasystems Inc. (NASDAQ:PEGA) Receives $82.60 Average Price Target from Brokerages

Shares of Pegasystems Inc. (NASDAQ:PEGA) have received an average rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $82.60.

A number of analysts have commented on the company. DA Davidson boosted their price objective on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Loop Capital upgraded Pegasystems from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. Rosenblatt Securities raised their price objective on Pegasystems from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada increased their target price on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at $54,211.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 932 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $71.00, for a total value of $66,172.00. Following the completion of the transaction, the chief accounting officer now directly owns 2 shares of the company’s stock, valued at $142. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,955 shares of company stock valued at $3,303,771. 50.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in Pegasystems during the 2nd quarter worth approximately $378,000. Seaport Global Advisors LLC increased its holdings in shares of Pegasystems by 83.9% in the second quarter. Seaport Global Advisors LLC now owns 15,200 shares of the technology company’s stock worth $920,000 after purchasing an additional 6,935 shares during the period. Susquehanna Fundamental Investments LLC increased its holdings in shares of Pegasystems by 38.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 43,790 shares of the technology company’s stock worth $2,651,000 after purchasing an additional 12,269 shares during the period. Luxor Capital Group LP raised its position in shares of Pegasystems by 7.9% in the second quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock worth $41,399,000 after buying an additional 49,861 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Pegasystems by 124.6% during the second quarter. Mackenzie Financial Corp now owns 97,427 shares of the technology company’s stock valued at $5,897,000 after buying an additional 54,058 shares during the period. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Stock Down 0.2 %

Shares of NASDAQ:PEGA opened at $66.35 on Thursday. Pegasystems has a twelve month low of $37.66 and a twelve month high of $72.74. The stock’s 50 day moving average is $66.17 and its 200-day moving average is $62.60. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 80.92 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.41) earnings per share. Equities research analysts anticipate that Pegasystems will post 1.54 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. Pegasystems’s dividend payout ratio is presently 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.