Rosenblatt Securities Boosts Pegasystems (NASDAQ:PEGA) Price Target to $95.00

Pegasystems (NASDAQ:PEGA) had its target price boosted by Rosenblatt Securities from $90.00 to $95.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Barclays upped their price target on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a research report on Monday, July 29th. DA Davidson raised their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Pegasystems Stock Performance

Shares of PEGA stock opened at $80.03 on Friday. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 97.60 and a beta of 1.07. Pegasystems has a one year low of $38.94 and a one year high of $82.22. The company’s 50-day moving average is $70.44 and its 200 day moving average is $64.27.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. As a group, research analysts predict that Pegasystems will post 1.54 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. Pegasystems’s dividend payout ratio (DPR) is 14.63%.

Insider Activity at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total value of $73,170.00. Following the completion of the sale, the chief financial officer now owns 17,262 shares in the company, valued at $1,263,060.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total transaction of $73,170.00. Following the transaction, the chief financial officer now owns 17,262 shares of the company’s stock, valued at $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,955 shares of company stock worth $3,136,247. Corporate insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Large investors have recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new stake in shares of Pegasystems during the second quarter worth about $67,968,000. Dimensional Fund Advisors LP boosted its stake in Pegasystems by 266.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock worth $23,641,000 after purchasing an additional 284,095 shares during the period. AQR Capital Management LLC grew its holdings in Pegasystems by 104.5% during the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock valued at $33,381,000 after buying an additional 283,508 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Pegasystems by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after buying an additional 250,273 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Pegasystems by 77.8% in the first quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after buying an additional 218,599 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Company Profile

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.