Pegasystems Inc. (NASDAQ:PEGA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Pegasystems Inc. (NASDAQ:PEGA) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $63.30.

PEGA has been the subject of a number of recent analyst reports. Citigroup reissued a “market outperform” rating on shares of Pegasystems in a research report on Wednesday, June 10th. Citizens Jmp reissued a “market outperform” rating and set a $58.00 target price on shares of Pegasystems in a research report on Wednesday, June 10th. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a research report on Thursday, April 23rd. Rosenblatt Securities reissued a “buy” rating and set a $58.00 target price on shares of Pegasystems in a research report on Wednesday, June 10th. Finally, DA Davidson reaffirmed a “buy” rating and set a $55.00 price objective on shares of Pegasystems in a research report on Wednesday, June 10th.

Insider Activity at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 4,545 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the sale, the insider owned 107,070 shares of the company’s stock, valued at $3,570,784.50. This trade represents a 4.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the sale, the chief accounting officer directly owned 2,144 shares of the company’s stock, valued at approximately $79,306.56. This trade represents a 25.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 6,795 shares of company stock valued at $229,613. Insiders own 48.40% of the company’s stock.

Institutional Trading of Pegasystems

Several large investors have recently modified their holdings of PEGA. NewEdge Advisors LLC lifted its holdings in shares of Pegasystems by 1.4% in the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock worth $785,000 after purchasing an additional 189 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Pegasystems by 5.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after purchasing an additional 228 shares in the last quarter. Amundi lifted its holdings in shares of Pegasystems by 0.6% in the 4th quarter. Amundi now owns 39,881 shares of the technology company’s stock worth $2,382,000 after purchasing an additional 249 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Pegasystems by 3.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock worth $500,000 after purchasing an additional 272 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of Pegasystems by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock worth $936,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $29.84 on Wednesday. The company has a market capitalization of $4.99 billion, a PE ratio of 16.04 and a beta of 0.86. The company has a 50 day simple moving average of $35.39 and a two-hundred day simple moving average of $44.38. Pegasystems has a fifty-two week low of $28.72 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The firm had revenue of $429.97 million for the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. Research analysts predict that Pegasystems will post 1.93 EPS for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio (DPR) is 6.45%.

About Pegasystems

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.