Shares of Pegasystems Inc. (NASDAQ:PEGA) have received an average recommendation of “Buy” from the nine research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $85.80.
Several analysts recently commented on the company. Zacks Investment Research downgraded Pegasystems from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. DA Davidson raised their price objective on Pegasystems to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. BidaskClub raised Pegasystems from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, ValuEngine downgraded Pegasystems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd.
Shares of Pegasystems stock opened at $82.10 on Wednesday. Pegasystems has a 12 month low of $51.27 and a 12 month high of $82.83. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $78.42 and its 200 day simple moving average is $74.52.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.23) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). The business had revenue of $216.70 million for the quarter, compared to the consensus estimate of $216.68 million. Pegasystems had a negative return on equity of 14.16% and a negative net margin of 8.41%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. As a group, research analysts anticipate that Pegasystems will post -0.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Monday, December 30th.
In related news, CAO Efstathios A. Kouninis sold 981 shares of Pegasystems stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.88, for a total value of $75,419.28. Following the sale, the chief accounting officer now owns 413 shares of the company’s stock, valued at approximately $31,751.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard H. Jones sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $80.09, for a total value of $1,121,260.00. Following the completion of the sale, the director now owns 299,544 shares in the company, valued at approximately $23,990,478.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,287 shares of company stock valued at $3,954,867. Corporate insiders own 52.37% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. TPG Group Holdings SBS Advisors Inc. raised its holdings in shares of Pegasystems by 23.7% in the third quarter. TPG Group Holdings SBS Advisors Inc. now owns 2,065,711 shares of the technology company’s stock valued at $140,572,000 after purchasing an additional 395,247 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Pegasystems in the third quarter worth $122,000. BBVA USA Bancshares Inc. acquired a new position in Pegasystems during the third quarter worth $612,000. California Public Employees Retirement System boosted its holdings in Pegasystems by 21.2% during the third quarter. California Public Employees Retirement System now owns 83,392 shares of the technology company’s stock worth $5,675,000 after purchasing an additional 14,568 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Pegasystems by 4.5% during the second quarter. Bank of America Corp DE now owns 173,421 shares of the technology company’s stock worth $12,350,000 after purchasing an additional 7,394 shares during the last quarter. 45.58% of the stock is owned by hedge funds and other institutional investors.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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