Analysts Set Pegasystems Inc. (NASDAQ:PEGA) Price Target at $63.70

Pegasystems Inc. (NASDAQ:PEGA) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $63.70.

PEGA has been the subject of a number of recent research reports. Wall Street Zen cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 14th. Citigroup lifted their price objective on shares of Pegasystems from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Zacks Research cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, KeyCorp set a $60.00 price objective on shares of Pegasystems in a research note on Thursday, February 5th.

Insiders Place Their Bets

In related news, CFO Kenneth Stillwell sold 44,000 shares of Pegasystems stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $44.81, for a total transaction of $1,971,640.00. Following the completion of the transaction, the chief financial officer directly owned 109,123 shares of the company’s stock, valued at approximately $4,889,801.63. The trade was a 28.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 1,000 shares of Pegasystems stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $42.88, for a total transaction of $42,880.00. Following the transaction, the chief accounting officer directly owned 3,365 shares of the company’s stock, valued at approximately $144,291.20. This represents a 22.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,594 shares of company stock valued at $2,344,024 in the last three months. Corporate insiders own 48.40% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Large investors have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. purchased a new position in shares of Pegasystems during the 3rd quarter worth about $28,000. International Assets Investment Management LLC purchased a new position in shares of Pegasystems during the 4th quarter worth about $28,000. Hantz Financial Services Inc. boosted its stake in shares of Pegasystems by 321.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after purchasing an additional 431 shares during the period. EFG International AG purchased a new stake in Pegasystems in the fourth quarter worth $32,000. Finally, Mather Group LLC. purchased a new stake in Pegasystems in the third quarter worth $33,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Trading Down 4.8%

Shares of PEGA stock opened at $34.26 on Tuesday. Pegasystems has a 12-month low of $33.94 and a 12-month high of $68.10. The stock’s 50-day moving average price is $41.35 and its 200-day moving average price is $49.89. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 18.42 and a beta of 0.88.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The business had revenue of $429.97 million during the quarter, compared to analysts’ expectations of $473.24 million. During the same period in the previous year, the business earned $0.76 earnings per share. The business’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, research analysts predict that Pegasystems will post 1.95 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Pegasystems’s dividend payout ratio (DPR) is presently 6.45%.

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.