Citigroup Cuts Pegasystems (NASDAQ:PEGA) Price Target to $107.00

Pegasystems (NASDAQ:PEGA) had its target price lowered by Citigroup from $119.00 to $107.00 in a research report released on Tuesday morning, Marketbeat.com reports. The firm currently has a buy rating on the technology company’s stock.

PEGA has been the topic of several other reports. Royal Bank of Canada lifted their price objective on Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. KeyCorp reduced their price target on Pegasystems from $118.00 to $94.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. DA Davidson lowered their price objective on Pegasystems from $90.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of Pegasystems in a research report on Thursday, February 13th. Finally, Loop Capital decreased their price target on shares of Pegasystems from $115.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and an average target price of $100.27.

Pegasystems Stock Performance

PEGA stock opened at $91.34 on Tuesday. The company has a market capitalization of $7.85 billion, a PE ratio of 90.44 and a beta of 1.22. Pegasystems has a one year low of $54.55 and a one year high of $113.67. The company’s 50 day moving average price is $73.15 and its two-hundred day moving average price is $85.46.

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

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.07%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems’s dividend payout ratio (DPR) is presently 11.88%.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the sale, the chief financial officer now owns 14,466 shares of the company’s stock, valued at $1,528,043.58. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alan Trefler sold 31,500 shares of Pegasystems stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total value of $2,437,470.00. Following the completion of the transaction, the chairman now owns 17,308,786 shares of the company’s stock, valued at approximately $1,339,353,860.68. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,291 shares of company stock valued at $8,289,469. 50.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PEGA. Principal Securities Inc. raised 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 acquiring an additional 167 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after buying an additional 149 shares during the period. CX Institutional purchased a new position in shares of Pegasystems during the first quarter valued at $36,000. GAMMA Investing LLC raised its holdings in shares of Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after acquiring an additional 201 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Pegasystems in the fourth quarter worth about $61,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

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.