Pegasystems (NASDAQ:PEGA) Stock Price Down 6.2% – What’s Next?

Pegasystems Inc. (NASDAQ:PEGA) fell 6.2% on Friday . The stock traded as low as $56.47 and last traded at $56.0330. 209,876 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,029,453 shares. The stock had previously closed at $59.72.

Analysts Set New Price Targets

A number of analysts recently issued reports on PEGA shares. Royal Bank Of Canada reissued an “outperform” rating and set a $80.00 price objective (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price target on Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Rosenblatt Securities increased their price target on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pegasystems in a research note on Monday. Finally, Wedbush upped their target price on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Pegasystems presently has an average rating of “Moderate Buy” and a consensus target price of $70.05.

Pegasystems Trading Down 6.4%

The business has a fifty day moving average price of $59.23 and a 200 day moving average price of $56.41. The firm has a market cap of $9.48 billion, a PE ratio of 37.54 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.12. The firm had revenue of $381.35 million during the quarter, compared to analysts’ expectations of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.Pegasystems’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, research analysts expect that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Pegasystems’s dividend payout ratio (DPR) is currently 8.05%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $60.19, for a total value of $240,760.00. Following the transaction, the insider directly owned 112,845 shares of the company’s stock, valued at approximately $6,792,140.55. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon Trefler sold 14,865 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $63.40, for a total transaction of $942,441.00. Following the completion of the transaction, the insider directly owned 118,799 shares of the company’s stock, valued at $7,531,856.60. This trade represents a 11.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 205,301 shares of company stock valued at $12,297,609 in the last three months. Company insiders own 49.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PEGA. Nordea Investment Management AB lifted its stake in Pegasystems by 100.9% in the second quarter. Nordea Investment Management AB now owns 196,065 shares of the technology company’s stock valued at $10,492,000 after acquiring an additional 98,468 shares during the last quarter. Herald Investment Management Ltd increased its stake in shares of Pegasystems by 100.0% during the 2nd quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock worth $38,086,000 after purchasing an additional 351,800 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Pegasystems by 60.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 240,225 shares of the technology company’s stock valued at $13,003,000 after purchasing an additional 90,404 shares during the period. Convergence Investment Partners LLC acquired a new stake in Pegasystems in the 2nd quarter valued at about $2,653,000. Finally, Retirement Systems of Alabama acquired a new stake in Pegasystems in the 2nd quarter valued at about $5,889,000. 46.89% of the stock is owned by institutional investors.

Pegasystems Company Profile

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.