Pegasystems (NASDAQ:PEGA) Price Target Lowered to $66.00 at Barclays

Pegasystems (NASDAQ:PEGA) had its price objective decreased by Barclays from $68.00 to $66.00 in a research report report published on Monday, Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

Several other brokerages also recently commented on PEGA. The Goldman Sachs Group lifted their target price on shares of Pegasystems from $50.00 to $70.00 and gave the stock a neutral rating in a research note on Friday, February 16th. StockNews.com upgraded shares of Pegasystems from a buy rating to a strong-buy rating in a report on Tuesday, February 13th. DA Davidson reiterated a neutral rating and issued a $60.00 price target on shares of Pegasystems in a report on Monday, March 4th. Wedbush reiterated an outperform rating and issued a $90.00 price target on shares of Pegasystems in a report on Wednesday, April 10th. Finally, TheStreet upgraded shares of Pegasystems from a d+ rating to a c rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $70.56.

Pegasystems Trading Down 3.2 %

PEGA stock opened at $58.46 on Monday. The company has a market capitalization of $4.90 billion, a PE ratio of 82.34 and a beta of 1.06. Pegasystems has a one year low of $37.66 and a one year high of $69.26. The company’s 50 day moving average price is $61.85 and its two-hundred day moving average price is $52.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.78 and a current ratio of 1.78.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $0.78 by $0.64. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. The company had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. As a group, analysts predict that Pegasystems will post 1.49 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, March 28th. Pegasystems’s dividend payout ratio (DPR) is presently 16.90%.

Insider Activity

In other news, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the completion of the transaction, the chief financial officer now owns 24,535 shares of the company’s stock, valued at approximately $1,549,875.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the completion of the transaction, the chief financial officer now owns 24,535 shares of the company’s stock, valued at approximately $1,549,875.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the transaction, the insider now directly owns 39,940 shares of the company’s stock, valued at approximately $2,564,148. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,792 shares of company stock worth $2,781,669. Corporate insiders own 50.20% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently made changes to their positions in PEGA. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Pegasystems during the 1st quarter valued at about $1,054,000. Bank of Montreal Can increased its position in shares of Pegasystems by 79.9% during the 1st quarter. Bank of Montreal Can now owns 8,964 shares of the technology company’s stock valued at $728,000 after purchasing an additional 3,982 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Pegasystems during the 1st quarter valued at about $1,059,000. Acadian Asset Management LLC increased its position in shares of Pegasystems by 55.5% during the 1st quarter. Acadian Asset Management LLC now owns 7,429 shares of the technology company’s stock valued at $598,000 after purchasing an additional 2,653 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in shares of Pegasystems during the 1st quarter valued at about $205,000. Hedge funds and other 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.