Pegasystems (NASDAQ:PEGA) Price Target Raised to $123.00

Pegasystems (NASDAQ:PEGA) had its price target increased by Citigroup from $99.00 to $123.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts have also issued reports about the stock. Barclays boosted their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Wedbush upped their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Rosenblatt Securities boosted their target price on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Pegasystems has an average rating of “Moderate Buy” and an average target price of $89.00.

Pegasystems Price Performance

Pegasystems stock opened at $95.24 on Wednesday. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 69.52 and a beta of 1.09. The firm has a 50 day simple moving average of $87.11 and a 200-day simple moving average of $72.60. Pegasystems has a 1-year low of $44.07 and a 1-year high of $97.94.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The company had revenue of $325.10 million during the quarter, compared to analysts’ expectations of $326.16 million. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts expect that Pegasystems will post 1.61 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date is Thursday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insiders Place Their Bets

In other news, CAO Efstathios A. Kouninis sold 528 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 6,200 shares of Pegasystems stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $94.67, for a total value of $586,954.00. Following the completion of the sale, the chief financial officer now directly owns 18,466 shares in the company, valued at $1,748,176.22. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,914 shares of company stock worth $2,283,688. 50.10% of the stock is owned by insiders.

Institutional Trading of Pegasystems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC purchased a new stake in shares of Pegasystems during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC raised its stake in shares of Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after buying an additional 216 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Pegasystems in the 3rd quarter worth about $57,000. Capital Performance Advisors LLP acquired a new stake in Pegasystems in the 3rd quarter valued at about $67,000. Finally, Headlands Technologies LLC increased its holdings in Pegasystems by 29.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.