Pegasystems (NASDAQ:PEGA) Given New $60.00 Price Target at Loop Capital

Pegasystems (NASDAQ:PEGAFree Report) had its price objective upped by Loop Capital from $52.50 to $60.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a research note on Tuesday, June 3rd. JMP Securities upped their price objective on Pegasystems from $55.00 to $62.50 and gave the stock a “market outperform” rating in a research report on Tuesday, June 3rd. KeyCorp dropped their target price on Pegasystems from $59.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Barclays boosted 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. Finally, Citigroup reaffirmed a “buy” rating and set a $66.00 price target on shares of Pegasystems in a research note on Wednesday, June 25th. Three 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.05.

View Our Latest Report on PEGA

Pegasystems Stock Performance

Shares of PEGA opened at $54.13 on Monday. The firm has a market cap of $9.26 billion, a P/E ratio of 52.55 and a beta of 1.12. Pegasystems has a twelve month low of $28.31 and a twelve month high of $56.84. The firm’s 50 day moving average price is $48.66 and its two-hundred day moving average price is $44.88.

Pegasystems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Pegasystems’s previous quarterly dividend of $0.02. Pegasystems’s dividend payout ratio is presently 5.83%.

Insiders Place Their Bets

In other news, CFO Kenneth Stillwell sold 35,426 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $44.68, for a total value of $1,582,833.68. Following the sale, the chief financial officer directly owned 42,990 shares of the company’s stock, valued at approximately $1,920,793.20. This represents a 45.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alan Trefler sold 63,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $48.25, for a total transaction of $3,039,750.00. Following the completion of the sale, the chairman owned 34,243,120 shares of the company’s stock, valued at $1,652,230,540. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,530 shares of company stock valued at $15,410,731 in the last ninety days. 50.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pegasystems

Institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in shares of Pegasystems in the first quarter valued at approximately $1,054,000. Focus Partners Wealth raised its stake in Pegasystems by 55.0% in the 1st quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock valued at $381,000 after acquiring an additional 1,943 shares during the period. Bayforest Capital Ltd bought a new position in Pegasystems during the first quarter worth $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Pegasystems by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock valued at $10,830,000 after purchasing an additional 23,713 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Pegasystems by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after purchasing an additional 13,075 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

About Pegasystems

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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.

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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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