Pegasystems Inc. (NASDAQ:PEGA) Receives $50.10 Average PT from Brokerages

Shares of Pegasystems Inc. (NASDAQ:PEGA) have been assigned an average rating of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $50.10.

A number of analysts have recently issued reports on PEGA shares. Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Zacks Research downgraded shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. William Blair cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd.

Insider Buying and Selling

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.75, for a total transaction of $26,062.50. Following the sale, the chief accounting officer owned 2,894 shares in the company, valued at $100,566.50. This trade represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,250 shares of company stock valued at $78,038 over the last quarter. 48.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Pegasystems in the 2nd quarter worth approximately $286,923,000. AQR Capital Management LLC grew its position in Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after acquiring an additional 2,836,733 shares during the last quarter. Invesco Ltd. raised its stake in shares of Pegasystems by 14.8% during the fourth quarter. Invesco Ltd. now owns 3,127,771 shares of the technology company’s stock worth $186,790,000 after acquiring an additional 402,763 shares in the last quarter. State Street Corp raised its stake in shares of Pegasystems by 255.3% during the second quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after acquiring an additional 2,089,375 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Pegasystems by 28.3% in the 4th quarter. Wellington Management Group LLP now owns 2,721,958 shares of the technology company’s stock worth $162,555,000 after acquiring an additional 599,790 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

Pegasystems Price Performance

NASDAQ PEGA opened at $33.83 on Thursday. The company’s 50 day simple moving average is $31.05 and its two-hundred day simple moving average is $36.81. Pegasystems has a 1 year low of $25.10 and a 1 year high of $68.10. The stock has a market capitalization of $5.56 billion, a PE ratio of 19.11 and a beta of 0.87.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The firm had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. On average, research analysts anticipate that Pegasystems will post 1.71 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a $0.03 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.4%. Pegasystems’s payout ratio is 6.78%.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.