Pegasystems (NASDAQ:PEGA) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a research note released on Tuesday morning, Benzinga reports. Rosenblatt Securities currently has a $75.00 price objective on the technology company’s stock.

A number of other research analysts have also recently issued reports on PEGA. The Goldman Sachs Group lifted their price target on shares of Pegasystems from $50.00 to $70.00 and gave the company a neutral rating in a research report on Friday, February 16th. StockNews.com raised shares of Pegasystems from a buy rating to a strong-buy rating in a research report on Tuesday, February 13th. Citigroup lifted their target price on shares of Pegasystems from $86.00 to $87.00 and gave the stock a buy rating in a report on Friday, March 22nd. DA Davidson reaffirmed a neutral rating and issued a $60.00 target price on shares of Pegasystems in a report on Monday, March 4th. Finally, TheStreet raised shares of Pegasystems from a d+ rating to a c rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $72.00.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $59.08 on Tuesday. The firm has a market cap of $4.96 billion, a PE ratio of 72.05 and a beta of 1.06. Pegasystems has a 12-month low of $37.66 and a 12-month high of $69.26. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41. The company’s fifty day simple moving average is $62.90 and its two-hundred day simple moving average is $52.99.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. The firm had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a net margin of 5.32% and a return on equity of 53.49%. As a group, equities analysts expect that Pegasystems will post 1.49 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.03 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.12 annualized dividend and a yield of 0.20%. Pegasystems’s dividend payout ratio (DPR) is 14.63%.

Insider Activity at Pegasystems

In related news, CFO Kenneth Stillwell sold 20,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the sale, the chief financial officer now directly owns 24,535 shares in the company, valued at $1,549,875.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Pegasystems news, insider Leon Trefler sold 1,504 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $63.80, for a total value of $95,955.20. Following the completion of the transaction, the insider now directly owns 35,533 shares in the company, valued at $2,267,005.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 20,606 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the transaction, the chief financial officer now owns 24,535 shares of the company’s stock, valued at $1,549,875.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,792 shares of company stock worth $2,781,669. 50.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds have recently modified their holdings of PEGA. CWM LLC boosted its position in shares of Pegasystems by 80.1% in the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after purchasing an additional 516 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of Pegasystems during the third quarter worth $91,000. Oak Thistle LLC bought a new position in shares of Pegasystems during the third quarter worth $469,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Pegasystems by 14.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,251 shares of the technology company’s stock worth $402,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Pegasystems during the third quarter worth $2,133,000. 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.