Pegasystems (NASDAQ:PEGA) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a buy rating in a research report released on Friday morning.

Other research analysts also recently issued research reports about the company. Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Pegasystems in a report on Thursday. DA Davidson increased their price target on Pegasystems from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday. Rosenblatt Securities lowered their price target on Pegasystems from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank of Canada increased their price objective on shares of Pegasystems from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday. Finally, JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Pegasystems in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.27.

Pegasystems Price Performance

PEGA opened at $91.69 on Friday. The firm has a market cap of $7.88 billion, a PE ratio of 90.78 and a beta of 1.22. Pegasystems has a 1 year low of $55.71 and a 1 year high of $113.67. The stock has a 50-day moving average price of $73.26 and a 200-day moving average price of $85.60.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, sell-side analysts anticipate that Pegasystems will post 1.89 EPS for the current year.

Pegasystems Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.07%. Pegasystems’s dividend payout ratio (DPR) is presently 11.88%.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 4,000 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $88.66, for a total value of $354,640.00. Following the completion of the sale, the insider now directly owns 52,640 shares in the company, valued at $4,667,062.40. This trade represents a 7.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the transaction, the chief financial officer now owns 14,466 shares in the company, valued at $1,528,043.58. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,949 shares of company stock valued at $8,703,263. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of large investors have recently made changes to their positions in PEGA. Principal Securities Inc. raised its position in Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after buying an additional 149 shares during the period. CX Institutional bought a new stake in shares of Pegasystems during the 1st quarter worth approximately $36,000. GAMMA Investing LLC boosted its holdings in Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company’s stock valued at $42,000 after acquiring an additional 201 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Pegasystems during the 4th quarter valued at $61,000. 46.89% of the stock is owned by hedge funds and other 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.