Pegasystems’ (PEGA) “Overweight” Rating Reaffirmed at KeyCorp

KeyCorp restated their overweight rating on shares of Pegasystems (NASDAQ:PEGA) in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has a $118.00 price objective on the technology company’s stock. KeyCorp also issued estimates for Pegasystems’ Q4 2024 earnings at $1.30 EPS, FY2024 earnings at $1.75 EPS, Q1 2025 earnings at $0.21 EPS, Q2 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $1.41 EPS, FY2025 earnings at $1.92 EPS and FY2026 earnings at $2.26 EPS.

Several other research analysts also recently issued reports on the stock. Citigroup upped their target price on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their target price on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Rosenblatt Securities boosted their price target on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Finally, Wedbush boosted their target price on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pegasystems presently has an average rating of “Moderate Buy” and a consensus target price of $93.91.

Pegasystems Stock Up 2.5 %

Shares of PEGA opened at $102.49 on Tuesday. The stock has a market cap of $8.79 billion, a P/E ratio of 74.81 and a beta of 1.09. The business’s 50 day moving average price is $93.30 and its 200-day moving average price is $77.28. Pegasystems has a 52 week low of $45.36 and a 52 week high of $104.59.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, equities analysts anticipate that Pegasystems will post 1.61 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s payout ratio is 8.76%.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 299 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $96.90, for a total value of $28,973.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 5,792 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.15, for a total transaction of $458,436.80. Following the sale, the chief financial officer now owns 17,400 shares in the company, valued at $1,377,210. The trade was a 24.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,914 shares of company stock valued at $2,414,935. 50.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pegasystems

A number of institutional investors have recently bought and sold shares of PEGA. True Wealth Design LLC bought a new position in shares of Pegasystems in the third quarter worth about $27,000. Venturi Wealth Management LLC boosted its stake in Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares during the period. Financial Management Professionals Inc. purchased a new stake in Pegasystems during the 3rd quarter valued at approximately $57,000. Capital Performance Advisors LLP bought a new stake in shares of Pegasystems during the third quarter valued at approximately $67,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after buying an additional 260 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.