Pegasystems Inc. (PEGA) Receives Outperform Rating from Wedbush
Pegasystems Inc. (NASDAQ:PEGA)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report released on Tuesday. They presently have a $32.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 14.57% from the company’s previous close.
Several other equities research analysts have also recently commented on PEGA. JMP Securities reiterated a “buy” rating on shares of Pegasystems in a research report on Wednesday, June 8th. Zacks Investment Research cut shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Saturday, August 6th. Finally, TheStreet cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Pegasystems presently has a consensus rating of “Hold” and an average price target of $30.67.
Pegasystems (NASDAQ:PEGA) traded down 0.25% on Tuesday, reaching $27.93. 407,462 shares of the company’s stock traded hands. The stock’s 50 day moving average is $26.26 and its 200 day moving average is $26.35. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 54.76 and a beta of 1.88. Pegasystems has a 52-week low of $20.38 and a 52-week high of $30.23.
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Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. Pegasystems had a net margin of 5.44% and a return on equity of 16.25%. The company earned $189 million during the quarter, compared to analysts’ expectations of $185.19 million. During the same quarter in the previous year, the company earned $0.14 EPS. Pegasystems’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Pegasystems will post $0.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.43%. The ex-dividend date is Thursday, September 29th. Pegasystems’s payout ratio is 24.00%.
In related news, Director Richard H. Jones sold 1,500 shares of Pegasystems stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $27.53, for a total transaction of $41,295.00. Following the transaction, the director now owns 633,509 shares of the company’s stock, valued at approximately $17,440,502.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Jones sold 7,300 shares of Pegasystems stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $28.06, for a total transaction of $204,838.00. Following the transaction, the director now directly owns 628,509 shares in the company, valued at approximately $17,635,962.54. The disclosure for this sale can be found here. Corporate insiders own 53.44% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEGA. Vanguard Group Inc. raised its position in Pegasystems by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,536,517 shares of the company’s stock valued at $68,359,000 after buying an additional 8,353 shares during the last quarter. FMR LLC raised its position in Pegasystems by 18.1% in the second quarter. FMR LLC now owns 1,518,245 shares of the company’s stock valued at $40,917,000 after buying an additional 232,745 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Pegasystems by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,386,596 shares of the company’s stock valued at $37,368,000 after buying an additional 96,691 shares during the last quarter. BlackRock Fund Advisors raised its position in Pegasystems by 0.8% in the second quarter. BlackRock Fund Advisors now owns 945,177 shares of the company’s stock valued at $25,473,000 after buying an additional 7,794 shares during the last quarter. Finally, Ranger Investment Management L.P. purchased a new position in Pegasystems during the second quarter valued at $21,009,000. 42.23% of the stock is currently owned by institutional investors and hedge funds.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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