Pegasystems Inc. (NASDAQ:PEGA) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Pegasystems Inc. (NASDAQ:PEGA – Get Free Report) have been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $47.40.

PEGA has been the subject of a number of analyst reports. Royal Bank Of Canada set a $35.00 price target on Pegasystems and gave the company an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Pegasystems in a report on Tuesday, September 1st. KeyCorp cut shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $47.00 target price (down from $54.00) on shares of Pegasystems in a research note on Thursday, September 17th. Finally, Citigroup cut Pegasystems from a “market outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd.

View Our Latest Research Report on Pegasystems

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 39,627 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $35.77, for a total transaction of $1,417,457.79. Following the completion of the sale, the chief financial officer owned 95,225 shares of the company’s stock, valued at $3,406,198.25. This trade represents a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kerim Akgonul sold 7,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $36.03, for a total value of $252,210.00. Following the sale, the insider directly owned 104,804 shares of the company’s stock, valued at $3,776,088.12. The trade was a 6.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 53,672 shares of company stock valued at $1,921,657. 48.40% of the stock is currently owned by insiders.

Institutional Trading of Pegasystems

Several institutional investors have recently added to or reduced their stakes in PEGA. BlackRock Inc. acquired a new position in Pegasystems in the 2nd quarter valued at about $286,923,000. Copeland Capital Management LLC purchased a new position in shares of Pegasystems in the first quarter valued at approximately $47,817,000. Ranger Investment Management L.P. acquired a new position in shares of Pegasystems in the second quarter valued at approximately $26,168,000. Capital Impact Advisors LLC purchased a new stake in Pegasystems during the 4th quarter worth approximately $45,705,000. Finally, Bank of New York Mellon Corp acquired a new stake in Pegasystems during the 2nd quarter worth approximately $19,382,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Stock Up 0.2%

Shares of NASDAQ:PEGA opened at $34.60 on Friday. Pegasystems has a 52-week low of $25.10 and a 52-week high of $68.10. The business has a 50-day moving average price of $34.28 and a 200-day moving average price of $34.91. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 19.55 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business had revenue of $420.72 million during the quarter, compared to analysts’ expectations of $427.38 million. During the same period last year, the company earned $0.28 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that Pegasystems will post 1.69 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Pegasystems’s dividend payout ratio is 6.78%.

About Pegasystems

(Get Free Report)

Pegasystems Inc is an enterprise software company that develops applications for customer engagement, business process management and workflow automation. Its software is designed to help organizations manage complex operations, improve customer service and automate decision-making across departments and channels.

The company’s product portfolio includes Pega Platform, a low-code application development and process automation platform, as well as solutions for customer relationship management, customer service, sales automation, marketing, fraud detection and case management.

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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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