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

Shares of Pegasystems Inc. (NASDAQ:PEGA) have received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $70.05.

Several analysts have issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Rosenblatt Securities boosted their target price on Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen lowered Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pegasystems in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, December 5th.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $61.32 on Wednesday. The stock has a market capitalization of $10.41 billion, a P/E ratio of 41.15 and a beta of 1.09. Pegasystems has a one year low of $29.84 and a one year high of $68.10. The firm’s 50 day simple moving average is $59.47 and its two-hundred day simple moving average is $56.36.

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

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, January 2nd. Pegasystems’s dividend payout ratio is currently 8.05%.

Insiders Place Their Bets

In other Pegasystems news, Chairman Alan Trefler sold 45,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $58.13, for a total value of $2,615,850.00. Following the transaction, the chairman owned 44,800,654 shares in the company, valued at approximately $2,604,262,017.02. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rifat Kerim Akgonul sold 4,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $60.19, for a total transaction of $240,760.00. Following the sale, the insider owned 112,845 shares of the company’s stock, valued at approximately $6,792,140.55. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 205,301 shares of company stock worth $12,297,609. 50.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pegasystems

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hazlett Burt & Watson Inc. purchased a new position in shares of Pegasystems during the third quarter valued at approximately $28,000. Spire Wealth Management boosted its holdings in Pegasystems by 274.2% in the second quarter. Spire Wealth Management now owns 565 shares of the technology company’s stock valued at $31,000 after acquiring an additional 414 shares in the last quarter. Hantz Financial Services Inc. increased its position in Pegasystems by 321.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock valued at $32,000 after purchasing an additional 431 shares during the period. Mather Group LLC. bought a new position in Pegasystems in the 3rd quarter worth $33,000. Finally, Blue Trust Inc. lifted its position in shares of Pegasystems by 902.9% in the 3rd quarter. Blue Trust Inc. now owns 682 shares of the technology company’s stock worth $39,000 after purchasing an additional 614 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.