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

Shares of Pegasystems Inc. (NASDAQ:PEGA) have earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $70.05.

A number of research analysts have recently issued reports on PEGA shares. Royal Bank Of Canada restated an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Rosenblatt Securities lifted their target price on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen cut shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Wedbush increased their price target on Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, DA Davidson raised Pegasystems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $85.00 in a research report on Wednesday, October 22nd.

Pegasystems Price Performance

Shares of PEGA stock opened at $50.38 on Friday. The stock has a market capitalization of $8.55 billion, a PE ratio of 33.81 and a beta of 1.08. The business’s 50 day simple moving average is $57.19 and its 200 day simple moving average is $56.78. Pegasystems has a one year low of $29.84 and a one year high of $68.10.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, January 2nd. Pegasystems’s payout ratio is presently 8.05%.

Insiders Place Their Bets

In other Pegasystems news, Chairman Alan Trefler sold 45,000 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total transaction of $2,205,900.00. Following the transaction, the chairman directly owned 44,394,454 shares in the company, valued at approximately $2,176,216,135.08. This represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth Stillwell sold 14,405 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $57.87, for a total transaction of $833,617.35. Following the sale, the chief financial officer directly owned 131,621 shares of the company’s stock, valued at approximately $7,616,907.27. This trade represents a 9.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 169,272 shares of company stock valued at $9,606,522 in the last ninety days. 49.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Several institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in shares of Pegasystems by 14.2% during the 4th quarter. Farther Finance Advisors LLC now owns 8,845 shares of the technology company’s stock worth $528,000 after purchasing an additional 1,100 shares in the last quarter. Curbstone Financial Management Corp acquired a new position in Pegasystems during the 4th quarter worth approximately $2,144,000. Robeco Institutional Asset Management B.V. acquired a new position in Pegasystems during the 4th quarter worth approximately $3,494,000. Robinhood Asset Management LLC bought a new position in Pegasystems in the fourth quarter worth approximately $5,073,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Pegasystems in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

About Pegasystems

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.