Pegasystems Inc. (NASDAQ:PEGA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Pegasystems Inc. (NASDAQ:PEGA) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $70.05.

PEGA has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Pegasystems in a research report on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and set a $80.00 target price (up previously from $70.00) on shares of Pegasystems in a report on Wednesday, October 22nd. Rosenblatt Securities boosted their target price on Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Wedbush increased their price target on shares of Pegasystems from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Barclays boosted their price objective on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd.

Pegasystems Trading Down 9.6%

Shares of NASDAQ:PEGA opened at $44.62 on Friday. Pegasystems has a 1-year low of $29.84 and a 1-year high of $68.10. The stock has a market capitalization of $7.57 billion, a P/E ratio of 29.95 and a beta of 1.08. The business has a 50-day moving average price of $56.78 and a two-hundred day moving average price of $56.66.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Pegasystems’s payout ratio is 8.05%.

Insider Activity at Pegasystems

In other news, Chairman Alan Trefler sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $49.02, for a total transaction of $2,205,900.00. Following the sale, the chairman owned 44,394,454 shares of the company’s stock, valued at $2,176,216,135.08. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction dated 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 owned 112,845 shares in the company, valued at $6,792,140.55. This trade represents a 3.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 164,847 shares of company stock worth $9,308,941 in the last quarter. Corporate insiders own 49.70% of the company’s stock.

Institutional Trading of Pegasystems

A number of large investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA boosted its holdings in shares of Pegasystems by 6.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,861 shares of the technology company’s stock valued at $887,000 after buying an additional 919 shares during the period. Inscription Capital LLC lifted its position in Pegasystems by 12.7% in the 4th quarter. Inscription Capital LLC now owns 5,151 shares of the technology company’s stock valued at $308,000 after acquiring an additional 581 shares in the last quarter. ST Germain D J Co. Inc. bought a new stake in Pegasystems in the 4th quarter valued at $197,000. UBS Group AG boosted its stake in Pegasystems by 0.8% in the 4th quarter. UBS Group AG now owns 1,847,713 shares of the technology company’s stock worth $110,345,000 after purchasing an additional 14,587 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in Pegasystems by 35.8% during the 4th quarter. Sanctuary Advisors LLC now owns 8,194 shares of the technology company’s stock worth $489,000 after purchasing an additional 2,161 shares in the last quarter. 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.