Pegasystems (NASDAQ:PEGA) PT Lowered to $82.00 at Citigroup

Pegasystems (NASDAQ:PEGA) had its target price trimmed by Citigroup from $87.00 to $82.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other analysts have also recently issued reports about the stock. DA Davidson reissued a neutral rating and set a $60.00 target price on shares of Pegasystems in a report on Monday, March 4th. Rosenblatt Securities reissued a buy rating and set a $75.00 target price on shares of Pegasystems in a report on Tuesday, April 23rd. Barclays increased their price objective on shares of Pegasystems from $66.00 to $69.00 and gave the stock an equal weight rating in a report on Friday, April 26th. JMP Securities reaffirmed a market perform rating on shares of Pegasystems in a report on Wednesday, June 12th. Finally, Wedbush reaffirmed an outperform rating and issued a $90.00 price objective on shares of Pegasystems in a report on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Pegasystems currently has a consensus rating of Moderate Buy and a consensus target price of $73.50.

Pegasystems Price Performance

PEGA opened at $60.53 on Wednesday. The stock has a market capitalization of $5.15 billion, a PE ratio of 73.82 and a beta of 1.05. The firm’s fifty day moving average price is $59.61 and its 200 day moving average price is $57.23. Pegasystems has a 12-month low of $37.66 and a 12-month high of $69.26.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $330.15 million for the quarter, compared to analyst estimates of $339.70 million. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. On average, equities research analysts forecast that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.03 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. Pegasystems’s dividend payout ratio is presently 14.63%.

Insider Activity

In other news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $64.20, for a total transaction of $48,278.40. Following the completion of the transaction, the insider now owns 39,940 shares in the company, valued at approximately $2,564,148. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pegasystems news, insider Leon Trefler sold 752 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $64.20, for a total transaction of $48,278.40. Following the completion of the sale, the insider now directly owns 39,940 shares of the company’s stock, valued at $2,564,148. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 23,951 shares of the company’s stock, valued at $1,437,060. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,504 shares of company stock worth $1,010,634. Corporate insiders own 50.10% of the company’s stock.

Institutional Trading of Pegasystems

A number of hedge funds have recently made changes to their positions in PEGA. Hsbc Holdings PLC purchased a new stake in shares of Pegasystems in the third quarter worth approximately $539,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Pegasystems by 19.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,798 shares of the technology company’s stock valued at $1,988,000 after acquiring an additional 7,398 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Pegasystems by 707.5% during the third quarter. Qube Research & Technologies Ltd now owns 64,673 shares of the technology company’s stock valued at $2,807,000 after acquiring an additional 56,664 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in Pegasystems during the third quarter valued at approximately $262,000. Finally, Gotham Asset Management LLC grew its holdings in Pegasystems by 3.2% during the third quarter. Gotham Asset Management LLC now owns 67,963 shares of the technology company’s stock valued at $2,950,000 after purchasing an additional 2,121 shares during the last quarter. 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.