Pegasystems Inc. (NASDAQ:PEGA) Given Consensus Recommendation of “Hold” by Analysts

Pegasystems Inc. (NASDAQ:PEGA) has been given a consensus rating of “Hold” by the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $50.10.

PEGA has been the subject of several analyst reports. Rosenblatt Securities reduced their price target on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday. Weiss Ratings cut Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Citizens Jmp downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Barclays reissued an “overweight” rating and issued a $39.00 target price (down from $48.00) on shares of Pegasystems in a report on Thursday. Finally, William Blair cut Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $26.82 on Friday. Pegasystems has a 1 year low of $25.10 and a 1 year high of $68.10. The firm’s 50-day moving average is $32.13 and its 200 day moving average is $39.70. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 15.15 and a beta of 0.87.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. On average, equities analysts expect that Pegasystems will post 1.79 EPS for the current fiscal year.

Pegasystems Dividend Announcement

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

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were 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 of the company’s stock, valued at $100,566.50. This trade represents a 20.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the sale, the insider owned 107,070 shares of the company’s stock, valued at $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,795 shares of company stock valued at $229,613. 48.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEGA. Fisher Asset Management LLC increased its holdings in Pegasystems by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after buying an additional 33,643 shares during the last quarter. Norges Bank bought a new position in Pegasystems in the fourth quarter worth approximately $31,905,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Pegasystems by 117.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock worth $34,427,000 after acquiring an additional 439,417 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Pegasystems by 259.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company’s stock worth $26,144,000 after acquiring an additional 296,916 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Pegasystems by 58.6% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 137,302 shares of the technology company’s stock valued at $5,844,000 after acquiring an additional 50,716 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

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.