Pegasystems’ (PEGA) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Pegasystems (NASDAQ:PEGA) in a report published on Tuesday,Benzinga reports. They currently have a $125.00 price target on the technology company’s stock.

Several other equities analysts have also recently issued reports on PEGA. Citigroup lowered their price objective on shares of Pegasystems from $119.00 to $107.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. KeyCorp lowered their price objective on shares of Pegasystems from $118.00 to $94.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities lowered their price objective on shares of Pegasystems from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, DA Davidson lifted their price objective on shares of Pegasystems from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.09.

Pegasystems Trading Up 3.2%

PEGA stock opened at $100.02 on Tuesday. The firm’s 50-day moving average is $84.36 and its two-hundred day moving average is $88.69. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 99.03 and a beta of 1.14. Pegasystems has a 52 week low of $55.90 and a 52 week high of $113.67.

Pegasystems Cuts Dividend

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

Insiders Place Their Bets

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $68.41, for a total value of $2,154,915.00. Following the completion of the sale, the chairman now directly owns 17,184,614 shares of the company’s stock, valued at $1,175,599,443.74. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 23,688 shares of the company’s stock, valued at $2,309,106.24. This represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,087 shares of company stock valued at $10,299,146 over the last ninety days. Corporate insiders own 49.70% of the company’s stock.

Institutional Trading of Pegasystems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Pegasystems by 189.0% in the fourth quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company’s stock worth $220,347,000 after buying an additional 1,546,281 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Pegasystems in the first quarter worth $151,149,000. TPG GP A LLC lifted its stake in shares of Pegasystems by 4.3% in the first quarter. TPG GP A LLC now owns 2,022,733 shares of the technology company’s stock worth $140,620,000 after buying an additional 82,845 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Pegasystems by 60.1% in the first quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company’s stock worth $81,337,000 after buying an additional 450,951 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Pegasystems in the first quarter worth $68,229,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.