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

Rosenblatt Securities reaffirmed their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a $56.00 price objective on the technology company’s stock.

A number of other analysts have also weighed in on PEGA. Barclays raised their target price on Pegasystems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 4th. DA Davidson raised their price target on Pegasystems from $47.50 to $50.00 and gave the company a “neutral” rating in a report on Friday, June 20th. Citigroup boosted their target price on Pegasystems from $58.00 to $65.50 and gave the stock a “buy” rating in a research report on Friday, June 6th. JMP Securities upped their target price on shares of Pegasystems from $55.00 to $62.50 and gave the company a “market outperform” rating in a research note on Tuesday, June 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $62.50 target price on shares of Pegasystems in a report on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.32.

Pegasystems Trading Up 3.3%

NASDAQ:PEGA opened at $51.61 on Tuesday. The stock has a market capitalization of $8.83 billion, a P/E ratio of 50.11 and a beta of 1.11. Pegasystems has a 1 year low of $28.31 and a 1 year high of $56.84. The firm has a 50 day moving average of $47.17 and a 200-day moving average of $44.76.

Pegasystems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.03 per share. This is a positive change from Pegasystems’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 0.23%. The ex-dividend date is Tuesday, July 1st. Pegasystems’s dividend payout ratio is 2.91%.

Insider Buying and Selling

In related news, Chairman Alan Trefler sold 31,500 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $100.83, for a total value of $3,176,145.00. Following the transaction, the chairman now directly owns 17,027,892 shares in the company, valued at approximately $1,716,922,350.36. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Efstathios A. Kouninis sold 1,196 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $51.50, for a total transaction of $61,594.00. Following the transaction, the chief accounting officer now owns 332 shares in the company, valued at approximately $17,098. The trade was a 78.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,530 shares of company stock worth $15,550,231. Company insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC lifted its holdings in shares of Pegasystems by 4.9% in the fourth quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company’s stock worth $435,000 after acquiring an additional 219 shares during the last quarter. Global Retirement Partners LLC grew its position in Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company’s stock worth $74,000 after acquiring an additional 256 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Pegasystems by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company’s stock worth $372,000 after purchasing an additional 354 shares in the last quarter. Swiss National Bank boosted its stake in shares of Pegasystems by 1.2% during the fourth quarter. Swiss National Bank now owns 84,000 shares of the technology company’s stock valued at $7,829,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Pegasystems by 50.9% in the first quarter. Farther Finance Advisors LLC now owns 2,889 shares of the technology company’s stock valued at $204,000 after buying an additional 974 shares during the period. Institutional investors and hedge funds 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.