JMP Securities Issues Positive Forecast for Pegasystems (NASDAQ:PEGA) Stock Price

Pegasystems (NASDAQ:PEGA) had its price objective boosted by JMP Securities from $110.00 to $125.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

PEGA has been the subject of a number of other reports. Wedbush reissued an “outperform” rating and issued a $125.00 price target on shares of Pegasystems in a research report on Tuesday. DA Davidson increased their price target on Pegasystems from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup lowered their price target on Pegasystems from $119.00 to $107.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. KeyCorp decreased their target price on Pegasystems from $118.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Rosenblatt Securities decreased their target price on Pegasystems from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.09.

Pegasystems Trading Up 3.2%

NASDAQ PEGA opened at $100.02 on Tuesday. The firm has a market capitalization of $8.56 billion, a P/E ratio of 99.03 and a beta of 1.14. The business has a fifty day simple moving average of $84.36 and a 200 day simple moving average of $88.69. Pegasystems has a 12 month low of $55.90 and a 12 month high of $113.67.

Pegasystems Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.015 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.06%. Pegasystems’s payout ratio is 5.83%.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $97.48, for a total transaction of $194,960.00. Following the completion of the transaction, the chief financial officer now owns 23,688 shares in the company, valued at approximately $2,309,106.24. This represents a 7.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Efstathios A. Kouninis sold 500 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $93.50, for a total value of $46,750.00. Following the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $46,750. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,087 shares of company stock worth $10,299,146. 49.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Securities Inc. boosted its stake in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Pegasystems by 85.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after purchasing an additional 149 shares during the period. CX Institutional bought a new position in Pegasystems in the 1st quarter worth about $36,000. SBI Securities Co. Ltd. boosted its stake in Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company’s stock worth $38,000 after purchasing an additional 320 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Pegasystems by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock worth $42,000 after purchasing an additional 201 shares during the period. 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.