Pegasystems (NASDAQ:PEGA) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Pegasystems (NASDAQ:PEGA) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $125.00 price target on the technology company’s stock.

A number of other equities analysts have also recently issued reports on PEGA. Barclays restated a “positive” rating on shares of Pegasystems in a research note on Thursday, April 24th. Citigroup dropped their price objective on shares of Pegasystems from $119.00 to $107.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Rosenblatt Securities dropped their price objective on shares of Pegasystems from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $105.00 target price (up previously from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.09.

Pegasystems Stock Performance

Shares of PEGA stock opened at $100.02 on Tuesday. Pegasystems has a 52-week low of $55.90 and a 52-week high of $113.67. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 99.03 and a beta of 1.14. The firm has a fifty day moving average of $84.36 and a 200-day moving average of $88.69.

Pegasystems Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.06%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems’s payout ratio is 5.83%.

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $97.48, for a total transaction of $194,960.00. Following the sale, the chief financial officer now owns 23,688 shares of the company’s stock, valued at $2,309,106.24. This represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 500 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $93.50, for a total transaction of $46,750.00. Following the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $46,750. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,087 shares of company stock valued at $10,299,146. 49.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

A number of hedge funds have recently added to or reduced their stakes in PEGA. Principal Securities Inc. grew its holdings in Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after acquiring an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares during the last quarter. CX Institutional acquired a new position in Pegasystems during the 1st quarter valued at about $36,000. SBI Securities Co. Ltd. lifted its position in Pegasystems by 139.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock valued at $38,000 after purchasing an additional 320 shares during the period. Finally, GAMMA Investing LLC lifted its position in Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after purchasing an additional 201 shares during the period. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.