Pegasystems (NASDAQ:PEGA) Given New $112.00 Price Target at Rosenblatt Securities

Pegasystems (NASDAQ:PEGA) had its price objective raised by Rosenblatt Securities from $101.00 to $112.00 in a research note released on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the technology company’s stock.

Several other analysts also recently weighed in on PEGA. JMP Securities lifted their target price on Pegasystems from $110.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Loop Capital reissued a “buy” rating and issued a $105.00 price objective (up previously from $85.00) on shares of Pegasystems in a research note on Thursday, April 24th. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Pegasystems in a research note on Tuesday. Finally, Barclays restated a “positive” rating on shares of Pegasystems in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.18.

Pegasystems Trading Up 0.6%

Shares of NASDAQ PEGA opened at $102.46 on Wednesday. The stock’s 50 day simple moving average is $86.28 and its 200 day simple moving average is $89.01. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 101.45 and a beta of 1.11. Pegasystems has a 12-month low of $55.90 and a 12-month high of $113.67.

Pegasystems Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.015 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 dividend on an annualized basis and a yield of 0.06%. Pegasystems’s dividend payout ratio (DPR) is currently 5.83%.

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 500 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.25, for a total transaction of $49,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $68.41, for a total value of $2,154,915.00. Following the sale, the chairman now owns 17,184,614 shares of the company’s stock, valued at approximately $1,175,599,443.74. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,087 shares of company stock worth $10,299,146 over the last 90 days. 49.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Pegasystems

Large investors have recently made changes to their positions in the stock. Principal Securities Inc. boosted its stake in Pegasystems by 150.5% during the 4th 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. EverSource Wealth Advisors LLC boosted its stake in Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock valued at $30,000 after purchasing an additional 149 shares during the period. CX Institutional bought a new stake in Pegasystems during the 1st quarter valued at approximately $36,000. SBI Securities Co. Ltd. boosted its stake in Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after purchasing an additional 320 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after purchasing an additional 201 shares during the period. 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.