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

Shares of Pegasystems Inc. (NASDAQ:PEGAGet Rating) have received a consensus recommendation of “Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $129.89.

PEGA has been the topic of a number of research analyst reports. Truist Financial initiated coverage on Pegasystems in a research note on Tuesday, March 8th. They issued a “buy” rating and a $110.00 target price on the stock. StockNews.com downgraded Pegasystems from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th. JMP Securities cut their target price on Pegasystems from $172.00 to $155.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 17th. TheStreet downgraded Pegasystems from a “c-” rating to a “d+” rating in a research note on Thursday, January 27th. Finally, KeyCorp dropped their price objective on Pegasystems from $147.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, February 17th.

PEGA stock opened at $74.42 on Thursday. The company has a market capitalization of $6.08 billion, a P/E ratio of -93.03 and a beta of 1.15. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.73 and a current ratio of 1.73. Pegasystems has a 52-week low of $71.61 and a 52-week high of $143.66. The business has a 50-day simple moving average of $80.47 and a two-hundred day simple moving average of $101.17.

Pegasystems (NASDAQ:PEGAGet Rating) last announced its earnings results on Wednesday, February 16th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08). Pegasystems had a negative return on equity of 16.51% and a negative net margin of 5.20%. The business had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $342.86 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. Pegasystems’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that Pegasystems will post -0.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Friday, April 1st were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, March 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. Pegasystems’s payout ratio is -15.00%.

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $100.76, for a total transaction of $100,760.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 50.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new position in shares of Pegasystems in the third quarter worth $37,000. Ellevest Inc. increased its holdings in shares of Pegasystems by 292.9% in the fourth quarter. Ellevest Inc. now owns 334 shares of the technology company’s stock worth $37,000 after purchasing an additional 249 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Pegasystems by 1,294.1% in the fourth quarter. First Horizon Advisors Inc. now owns 474 shares of the technology company’s stock worth $53,000 after purchasing an additional 440 shares during the period. Covestor Ltd bought a new position in shares of Pegasystems in the fourth quarter worth $59,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Pegasystems in the fourth quarter worth $60,000. 47.55% of the stock is currently owned by hedge funds and other institutional investors.

About Pegasystems (Get Rating)

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. 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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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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