Pegasystems (NASDAQ:PEGA) Price Target Lowered to $107.00 at Citigroup

Pegasystems (NASDAQ:PEGA) had its price objective lowered by Citigroup from $119.00 to $107.00 in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research firms also recently weighed in on PEGA. JMP Securities reiterated a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research note on Thursday, February 13th. DA Davidson cut their price target on shares of Pegasystems from $90.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. StockNews.com cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Loop Capital dropped their price objective on shares of Pegasystems from $115.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Royal Bank of Canada raised their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and an average target price of $100.27.

Pegasystems Trading Up 3.2 %

Shares of PEGA stock opened at $91.34 on Tuesday. The company has a market cap of $7.85 billion, a PE ratio of 90.44 and a beta of 1.22. Pegasystems has a 12-month low of $54.55 and a 12-month high of $113.67. The business’s fifty day simple moving average is $73.15 and its 200-day simple moving average is $85.46.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, equities analysts forecast that Pegasystems will post 1.89 earnings per share for the current year.

Pegasystems Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.06 annualized dividend and a dividend yield of 0.07%. Pegasystems’s dividend payout ratio is presently 11.88%.

Insiders Place Their Bets

In other Pegasystems news, insider Leon Trefler sold 2,049 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $75.65, for a total value of $155,006.85. Following the transaction, the insider now directly owns 52,019 shares in the company, valued at $3,935,237.35. The trade was a 3.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the sale, the insider now owns 56,534 shares of the company’s stock, valued at $4,084,581.50. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,291 shares of company stock valued at $8,289,469. Insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Treasurer of the State of North Carolina grew its stake in shares of Pegasystems by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 19,597 shares of the technology company’s stock valued at $1,826,000 after buying an additional 120 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Pegasystems by 2.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,875 shares of the technology company’s stock valued at $548,000 after acquiring an additional 139 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Pegasystems by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company’s stock worth $783,000 after purchasing an additional 141 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after purchasing an additional 149 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Pegasystems by 1.2% in the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company’s stock valued at $1,155,000 after purchasing an additional 152 shares during the period. 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.