Pegasystems Inc. (NASDAQ:PEGA)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued on Tuesday. They presently have a $32.00 price objective on the stock. Wedbush’s target price points to a potential upside of 14.57% from the stock’s previous close.

PEGA has been the subject of several other reports. Zacks Investment Research cut shares of Pegasystems from a “hold” rating to a “sell” rating in a report on Saturday, August 6th. TheStreet cut shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Finally, JMP Securities reaffirmed a “buy” rating on shares of Pegasystems in a report on Wednesday, June 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.67.

Shares of Pegasystems (NASDAQ:PEGA) traded down 0.25% during trading on Tuesday, reaching $27.93. The company had a trading volume of 407,462 shares. The firm has a 50-day moving average of $26.26 and a 200 day moving average of $26.35. The firm has a market capitalization of $2.13 billion, a PE ratio of 54.76 and a beta of 1.88. Pegasystems has a 1-year low of $20.38 and a 1-year high of $30.23.

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Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. The firm earned $189 million during the quarter, compared to analysts’ expectations of $185.19 million. Pegasystems had a net margin of 5.44% and a return on equity of 16.25%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. Analysts expect that Pegasystems will post $0.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.43%. Pegasystems’s dividend payout ratio (DPR) is presently 24.00%.

In other news, Director Larry Weber sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $25.15, for a total transaction of $50,300.00. Following the completion of the transaction, the director now directly owns 4,546 shares of the company’s stock, valued at approximately $114,331.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William W. Wyman sold 16,700 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $27.91, for a total transaction of $466,097.00. Following the transaction, the director now directly owns 16,741 shares of the company’s stock, valued at $467,241.31. The disclosure for this sale can be found here. 53.44% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ranger Investment Management L.P. acquired a new position in shares of Pegasystems during the second quarter worth $21,009,000. Norges Bank acquired a new position in shares of Pegasystems during the fourth quarter worth $11,989,000. Monarch Partners Asset Management LLC acquired a new position in shares of Pegasystems during the second quarter worth $10,549,000. Polar Capital LLP acquired a new position in shares of Pegasystems during the second quarter worth $10,462,000. Finally, FMR LLC boosted its position in shares of Pegasystems by 18.1% in the second quarter. FMR LLC now owns 1,518,245 shares of the company’s stock worth $40,917,000 after buying an additional 232,745 shares during the period. 42.23% of the stock is owned by institutional investors and hedge funds.

About Pegasystems

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.

5 Day Chart for NASDAQ:PEGA

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