Pegasystems (NASDAQ:PEGA) Price Target Raised to $60.00

Pegasystems (NASDAQ:PEGA) had its target price upped by Loop Capital from $52.50 to $60.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts also recently weighed in on PEGA. Wall Street Zen raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a report on Tuesday, June 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $56.00 target price on shares of Pegasystems in a report on Tuesday, June 24th. JMP Securities boosted their target price on Pegasystems from $55.00 to $62.50 and gave the company a “market outperform” rating in a report on Tuesday, June 3rd. Finally, Barclays boosted their target price on Pegasystems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, June 4th. Three research 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. Based on data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and an average price target of $54.05.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $52.66 on Monday. The stock has a 50-day simple moving average of $49.19 and a 200-day simple moving average of $44.99. The stock has a market cap of $9.01 billion, a P/E ratio of 51.13 and a beta of 1.13. Pegasystems has a 1 year low of $28.31 and a 1 year high of $56.84.

Pegasystems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.03 per share. This is a boost from Pegasystems’s previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.23%. Pegasystems’s payout ratio is presently 11.65%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider John Gerard Higgins sold 23,660 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $51.12, for a total value of $1,209,380.90. Following the completion of the transaction, the insider owned 38,026 shares in the company, valued at approximately $1,943,698.99. This represents a 38.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 8,000 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $44.33, for a total value of $354,640.00. Following the completion of the transaction, the insider owned 105,280 shares of the company’s stock, valued at $4,667,062.40. The trade was a 7.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,530 shares of company stock worth $15,410,731. 49.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEGA. EverSource Wealth Advisors LLC raised its position in Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares in the last quarter. CX Institutional purchased a new position in Pegasystems in the first quarter worth $36,000. SBI Securities Co. Ltd. raised its position in Pegasystems by 139.7% in the first quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC raised its position in Pegasystems by 50.5% in the first quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after acquiring an additional 201 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Pegasystems in the first quarter worth $57,000. 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.