Pegasystems Inc. (PEGA) Lifted to Strong-Buy at BidaskClub
Pegasystems Inc. (NASDAQ:PEGA) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.
A number of other research firms have also weighed in on PEGA. Wedbush reissued an “outperform” rating and issued a $50.00 price objective (up previously from $46.00) on shares of Pegasystems in a research report on Tuesday, May 2nd. JMP Securities reissued an “outperform” rating and issued a $63.00 price objective (up previously from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Finally, Benchmark Co. reissued a “buy” rating and issued a $67.00 price objective (up previously from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $53.80.
Pegasystems (NASDAQ:PEGA) traded up 0.952% during mid-day trading on Friday, hitting $60.975. 153,089 shares of the stock traded hands. The firm’s 50-day moving average is $58.65 and its 200-day moving average is $45.55. Pegasystems has a 12-month low of $24.71 and a 12-month high of $64.85. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 111.881 and a beta of 1.46.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.16. The business had revenue of $223.20 million during the quarter, compared to analyst estimates of $200.52 million. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. Equities research analysts expect that Pegasystems will post $1.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be issued a $0.03 dividend. The ex-dividend date is Thursday, June 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. Pegasystems’s payout ratio is 23.08%.
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In related news, VP Michael R. Pyle sold 1,522 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $59.48, for a total value of $90,528.56. Following the completion of the sale, the vice president now directly owns 30,594 shares in the company, valued at $1,819,731.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard H. Jones sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $57.90, for a total transaction of $810,600.00. Following the completion of the sale, the director now owns 537,292 shares of the company’s stock, valued at $31,109,206.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,975 shares of company stock valued at $4,100,511. 53.61% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in PEGA. Bahl & Gaynor Inc. increased its stake in Pegasystems by 13.6% in the first quarter. Bahl & Gaynor Inc. now owns 61,629 shares of the technology company’s stock worth $2,702,000 after buying an additional 7,390 shares during the last quarter. Vista Equity Partners Management LLC increased its stake in Pegasystems by 81.2% in the first quarter. Vista Equity Partners Management LLC now owns 302,571 shares of the technology company’s stock worth $13,268,000 after buying an additional 135,582 shares during the last quarter. Bank of Montreal Can increased its stake in Pegasystems by 31.4% in the first quarter. Bank of Montreal Can now owns 4,723 shares of the technology company’s stock worth $208,000 after buying an additional 1,129 shares during the last quarter. Teachers Advisors LLC increased its stake in Pegasystems by 54.6% in the fourth quarter. Teachers Advisors LLC now owns 107,736 shares of the technology company’s stock worth $3,878,000 after buying an additional 38,047 shares during the last quarter. Finally, Capital Impact Advisors LLC increased its stake in Pegasystems by 30.1% in the first quarter. Capital Impact Advisors LLC now owns 41,698 shares of the technology company’s stock worth $1,828,000 after buying an additional 9,642 shares during the last quarter. Hedge funds and other institutional investors own 44.12% of the company’s stock.
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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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