Pegasystems Inc. (NASDAQ:PEGA) Given Consensus Rating of “Moderate Buy” by Brokerages

Pegasystems Inc. (NASDAQ:PEGA) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $69.6111.

A number of research firms recently weighed in on PEGA. Wedbush upped their price target on Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Rosenblatt Securities upped their target price on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $80.00 target price (up from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Loop Capital boosted their price target on shares of Pegasystems from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Weiss Ratings lowered shares of Pegasystems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 17,171 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $66.40, for a total value of $1,140,154.40. Following the transaction, the chief financial officer owned 127,826 shares in the company, valued at $8,487,646.40. This trade represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rifat Kerim Akgonul sold 5,000 shares of Pegasystems stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $54.08, for a total value of $270,400.00. Following the transaction, the insider directly owned 72,405 shares in the company, valued at approximately $3,915,662.40. The trade was a 6.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 203,895 shares of company stock worth $12,179,202. 49.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Pegasystems by 5.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after acquiring an additional 228 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Pegasystems by 24.0% during the third quarter. Hillsdale Investment Management Inc. now owns 52,700 shares of the technology company’s stock worth $3,030,000 after purchasing an additional 10,200 shares during the last quarter. NewEdge Wealth LLC grew its position in Pegasystems by 21.9% in the 3rd quarter. NewEdge Wealth LLC now owns 22,320 shares of the technology company’s stock worth $1,330,000 after purchasing an additional 4,005 shares in the last quarter. Beirne Wealth Consulting Services LLC purchased a new stake in Pegasystems in the 3rd quarter valued at about $218,000. Finally, Rothschild Investment LLC lifted its position in shares of Pegasystems by 2,678.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,667 shares of the technology company’s stock worth $96,000 after buying an additional 1,607 shares in the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Trading Up 1.2%

NASDAQ:PEGA opened at $59.81 on Tuesday. Pegasystems has a 12 month low of $29.84 and a 12 month high of $68.10. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 40.14 and a beta of 1.09. The firm has a fifty day simple moving average of $58.54 and a two-hundred day simple moving average of $53.93.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The company had revenue of $381.35 million for the quarter, compared to analysts’ expectations of $351.95 million. Pegasystems had a net margin of 16.05% and a return on equity of 43.49%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. Equities analysts predict that Pegasystems will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.2%. Pegasystems’s dividend payout ratio (DPR) is presently 8.05%.

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.