Pegasystems Inc. (NASDAQ:PEGA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pegasystems Inc. (NASDAQ:PEGA) has been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $70.05.

PEGA has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Rosenblatt Securities raised their price target on shares of Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 29th. Finally, Wedbush raised their target price on Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd.

Pegasystems Trading Up 0.5%

NASDAQ PEGA opened at $50.38 on Friday. The company has a market cap of $8.55 billion, a P/E ratio of 33.81 and a beta of 1.08. The company has a fifty day simple moving average of $57.19 and a 200 day simple moving average of $56.78. Pegasystems has a 12-month low of $29.84 and a 12-month high of $68.10.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.03 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems’s dividend payout ratio (DPR) is 8.05%.

Insider Activity

In related news, CFO Kenneth Stillwell sold 14,405 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $57.87, for a total transaction of $833,617.35. Following the transaction, the chief financial officer directly owned 131,621 shares in the company, valued at approximately $7,616,907.27. The trade was a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 4,425 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $67.25, for a total transaction of $297,581.25. Following the completion of the sale, the chief accounting officer directly owned 206 shares of the company’s stock, valued at $13,853.50. The trade was a 95.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 169,272 shares of company stock valued at $9,606,522 over the last quarter. 49.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Pegasystems

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock worth $217,584,000 after acquiring an additional 2,836,733 shares during the period. State Street Corp increased its position in shares of Pegasystems by 255.3% during the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock valued at $157,393,000 after purchasing an additional 2,089,375 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Pegasystems by 86.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,050,075 shares of the technology company’s stock worth $219,231,000 after purchasing an additional 1,875,896 shares during the period. Bares Capital Management Inc. raised its stake in shares of Pegasystems by 76.6% during the 2nd quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company’s stock worth $191,767,000 after purchasing an additional 1,536,726 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Pegasystems by 357.6% in the 3rd quarter. American Century Companies Inc. now owns 1,586,793 shares of the technology company’s stock worth $91,241,000 after buying an additional 1,239,998 shares during the last quarter. 46.89% of the stock is owned by institutional investors.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.