Pegasystems Inc. (NASDAQ:PEGA) Stock Has Average Price Target of $47.40 According to Analysts

Shares of Pegasystems Inc. (NASDAQ:PEGA) have received a consensus rating of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $47.40.

Several research firms recently weighed in on PEGA. William Blair lowered Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada set a $35.00 price target on Pegasystems and gave the company an “outperform” rating in a report on Thursday, July 23rd. Citizens Jmp lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. KeyCorp cut shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 22nd. Finally, Barclays restated an “overweight” rating and issued a $39.00 price objective (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd.

Insider Activity

In other news, insider Kerim Akgonul sold 7,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $36.03, for a total value of $252,210.00. Following the sale, the insider directly owned 104,804 shares of the company’s stock, valued at approximately $3,776,088.12. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dianne Ledingham sold 1,000 shares of Pegasystems stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $38.00, for a total value of $38,000.00. Following the completion of the transaction, the director owned 39,280 shares in the company, valued at $1,492,640. The trade was a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,672 shares of company stock worth $1,887,507 in the last 90 days. Insiders own 48.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Pegasystems during the second quarter worth $286,923,000. Copeland Capital Management LLC acquired a new position in Pegasystems during the 1st quarter valued at $47,817,000. Ranger Investment Management L.P. bought a new stake in Pegasystems in the 2nd quarter valued at $26,168,000. Capital Impact Advisors LLC bought a new stake in Pegasystems in the 4th quarter valued at $45,705,000. Finally, Bank of New York Mellon Corp acquired a new stake in Pegasystems in the 2nd quarter worth $19,382,000. 46.89% of the stock is owned by institutional investors.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA opened at $33.93 on Friday. The stock has a market capitalization of $5.58 billion, a PE ratio of 19.17 and a beta of 0.89. Pegasystems has a 1 year low of $25.10 and a 1 year high of $68.10. The firm has a fifty day moving average price of $34.06 and a 200 day moving average price of $35.02.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company 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%. Pegasystems’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. On average, sell-side analysts forecast that Pegasystems will post 1.69 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Pegasystems’s payout ratio is currently 6.78%.

About Pegasystems

Pegasystems Inc is an enterprise software company that develops applications for customer engagement, business process management and workflow automation. Its software is designed to help organizations manage complex operations, improve customer service and automate decision-making across departments and channels.

The company’s product portfolio includes Pega Platform, a low-code application development and process automation platform, as well as solutions for customer relationship management, customer service, sales automation, marketing, fraud detection and case management.