Pegasystems (NASDAQ:PEGA) Reaches New 12-Month High After Analyst Upgrade

Pegasystems Inc. (NASDAQ:PEGA) reached a new 52-week high during mid-day trading on Thursday after DA Davidson raised their price target on the stock to $105.00. DA Davidson currently has a buy rating on the stock. Pegasystems traded as high as $99.29 and last traded at $98.20, with a volume of 418118 shares traded. The stock had previously closed at $90.79.

PEGA has been the topic of a number of other research reports. Rosenblatt Securities assumed coverage on Pegasystems in a report on Tuesday, January 21st. They issued a “buy” rating and a $120.00 price target on the stock. ValuEngine lowered Pegasystems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. BidaskClub raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Zacks Investment Research raised Pegasystems from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, KeyCorp increased their price target on Pegasystems from $106.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $92.00.

In related news, CAO Efstathios A. Kouninis sold 438 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $78.00, for a total value of $34,164.00. Following the transaction, the chief accounting officer now directly owns 465 shares of the company’s stock, valued at approximately $36,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Leon Trefler sold 619 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $75.34, for a total value of $46,635.46. Following the completion of the transaction, the senior vice president now directly owns 8,267 shares in the company, valued at $622,835.78. The disclosure for this sale can be found here. Insiders sold a total of 35,038 shares of company stock worth $2,746,849 over the last ninety days. Corporate insiders own 52.37% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PEGA. Tower Research Capital LLC TRC raised its position in shares of Pegasystems by 27.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,250 shares of the technology company’s stock worth $85,000 after buying an additional 273 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Pegasystems by 54.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,690 shares of the technology company’s stock valued at $115,000 after acquiring an additional 596 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Pegasystems during the third quarter valued at about $122,000. Piedmont Investment Advisors Inc. acquired a new stake in shares of Pegasystems during the fourth quarter valued at about $224,000. Finally, Atria Investments LLC acquired a new stake in shares of Pegasystems during the second quarter valued at about $235,000. 45.56% of the stock is currently owned by institutional investors and hedge funds.

The firm has a 50 day moving average price of $84.72 and a two-hundred day moving average price of $76.39. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of -102.13 and a beta of 1.18.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.18). The business had revenue of $276.54 million for the quarter, compared to analyst estimates of $290.22 million. Pegasystems had a negative net margin of 8.41% and a negative return on equity of 14.16%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Analysts predict that Pegasystems Inc. will post -0.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.12 annualized dividend and a dividend yield of 0.12%.

Pegasystems Company Profile (NASDAQ:PEGA)

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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