Pegasystems’ (PEGA) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $75.00 price objective on the technology company’s stock.

Other analysts have also recently issued reports about the company. Barclays dropped their price target on Pegasystems from $68.00 to $66.00 and set an equal weight rating for the company in a report on Monday, April 15th. TheStreet upgraded Pegasystems from a d+ rating to a c rating in a research report on Thursday, February 15th. Royal Bank of Canada boosted their price target on shares of Pegasystems from $65.00 to $77.00 and gave the stock an outperform rating in a research report on Friday, February 16th. Wedbush reaffirmed an outperform rating and set a $90.00 price objective on shares of Pegasystems in a research report on Wednesday, April 10th. Finally, DA Davidson reissued a neutral rating and set a $60.00 price objective on shares of Pegasystems in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pegasystems has a consensus rating of Moderate Buy and a consensus price target of $72.00.

Pegasystems Trading Up 2.0 %

Shares of PEGA opened at $59.30 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 83.52 and a beta of 1.06. The stock has a fifty day moving average price of $62.93 and a two-hundred day moving average price of $52.90. Pegasystems has a 52-week low of $37.66 and a 52-week high of $69.26.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share (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 business had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. Analysts predict that Pegasystems will post 1.49 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 yield of 0.20%. The ex-dividend date was Thursday, March 28th. Pegasystems’s dividend payout ratio is currently 16.90%.

Insider Activity

In related news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $66.43, for a total transaction of $132,860.00. Following the completion of the sale, the chief financial officer now owns 16,000 shares in the company, valued at $1,062,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction on Friday, March 1st. The shares were sold at an average price of $66.43, for a total transaction of $132,860.00. Following the transaction, the chief financial officer now directly owns 16,000 shares of the company’s stock, valued at approximately $1,062,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Jones sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $63.39, for a total transaction of $633,900.00. Following the completion of the sale, the director now owns 379,658 shares of the company’s stock, valued at approximately $24,066,520.62. The disclosure for this sale can be found here. Insiders have sold 43,792 shares of company stock worth $2,781,669 over the last 90 days. 50.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC boosted its position in Pegasystems by 80.1% in the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after purchasing an additional 516 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Pegasystems in the 3rd quarter worth about $91,000. Oak Thistle LLC bought a new position in Pegasystems during the third quarter valued at about $469,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Pegasystems by 14.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,251 shares of the technology company’s stock worth $402,000 after buying an additional 1,182 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Pegasystems in the third quarter worth about $2,133,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

About Pegasystems

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.