KeyCorp reaffirmed their overweight rating on shares of Pegasystems (NASDAQ:PEGA – Free Report) in a research note issued to investors on Tuesday morning, Marketbeat reports. KeyCorp currently has a $118.00 target price on the technology company’s stock. KeyCorp also issued estimates for Pegasystems’ Q4 2024 earnings at $1.30 EPS, FY2024 earnings at $1.75 EPS, Q1 2025 earnings at $0.21 EPS, Q2 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $1.41 EPS, FY2025 earnings at $1.92 EPS and FY2026 earnings at $2.26 EPS.
A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Barclays boosted their price target on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Wedbush increased their price objective on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Citigroup boosted their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.91.
View Our Latest Research Report on Pegasystems
Pegasystems Trading Up 2.5 %
Pegasystems (NASDAQ:PEGA – Get Free Report) 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 analysts’ expectations of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, equities research analysts forecast that Pegasystems will post 1.61 EPS for the current year.
Pegasystems Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.
Insider Activity
In other news, CFO Kenneth Stillwell sold 5,792 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.15, for a total transaction of $458,436.80. Following the transaction, the chief financial officer now directly owns 17,400 shares of the company’s stock, valued at approximately $1,377,210. The trade was a 24.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,914 shares of company stock valued at $2,414,935. Insiders own 50.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new position in shares of Pegasystems during the second quarter valued at about $67,968,000. Dimensional Fund Advisors LP grew its holdings in shares of Pegasystems by 266.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock worth $23,641,000 after acquiring an additional 284,095 shares during the period. AQR Capital Management LLC raised its position in shares of Pegasystems by 104.5% in the 2nd quarter. AQR Capital Management LLC now owns 554,777 shares of the technology company’s stock worth $33,381,000 after acquiring an additional 283,508 shares in the last quarter. Foundry Partners LLC bought a new position in shares of Pegasystems in the 3rd quarter worth approximately $9,567,000. Finally, Eagle Asset Management Inc. lifted its stake in shares of Pegasystems by 440.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock valued at $10,770,000 after purchasing an additional 120,090 shares during the period. 46.89% of the stock is currently owned by institutional investors.
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.
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