Weekly Analysts’ Ratings Changes for Pegasystems (PEGA)

A number of firms have modified their ratings and price targets on shares of Pegasystems (NASDAQ: PEGA) recently:

• 8/1/2024 – Pegasystems was upgraded by analysts at Loop Capital from a “hold” rating to a “buy” rating. They now have a $84.00 price target on the stock, up previously from $68.00.
• 7/31/2024 – Pegasystems had its price target raised by analysts at JPMorgan Chase & Co. from $78.00 to $83.00. They now have an “overweight” rating on the stock.
• 7/31/2024 – Pegasystems was upgraded by analysts at JMP Securities from a “market perform” rating to an “outperform” rating. They now have a $85.00 price target on the stock.
• 7/31/2024 – Pegasystems had its price target raised by analysts at Rosenblatt Securities from $75.00 to $90.00. They now have a “buy” rating on the stock.
• 7/30/2024 – Pegasystems was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating.
• 7/29/2024 – Pegasystems had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $90.00 price target on the stock.
• 7/26/2024 – Pegasystems had its price target raised by analysts at Royal Bank of Canada from $77.00 to $90.00. They now have an “outperform” rating on the stock.
• 7/26/2024 – Pegasystems had its price target raised by analysts at The Goldman Sachs Group, Inc. from $70.00 to $78.00. They now have a “neutral” rating on the stock.
• 7/26/2024 – Pegasystems had its price target raised by analysts at DA Davidson from $60.00 to $70.00. They now have a “neutral” rating on the stock.
• 7/26/2024 – Pegasystems had its price target raised by analysts at Barclays PLC from $69.00 to $74.00. They now have an “equal weight” rating on the stock.
• 6/26/2024 – Pegasystems had its price target lowered by analysts at Citigroup Inc. from $87.00 to $82.00. They now have a “buy” rating on the stock.

Pegasystems Trading Up 1.1 %

NASDAQ:PEGA traded up $0.75 during trading hours on Monday, hitting $68.96. The company’s stock had a trading volume of 426,619 shares, compared to its average volume of 527,908. The stock has a market capitalization of $5.86 billion, a P/E ratio of 84.10 and a beta of 1.08. The stock has a fifty day moving average of $61.68 and a 200-day moving average of $61.01. Pegasystems Inc. has a 52-week low of $37.66 and a 52-week high of $72.74.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. Pegasystems’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.41) earnings per share. On average, sell-side analysts forecast that Pegasystems Inc. will post 1.55 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.17%. The ex-dividend date was Monday, July 1st. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Insider Activity at Pegasystems

In other Pegasystems news, insider Leon Trefler sold 752 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,211.68. Following the completion of the transaction, the insider now owns 38,412 shares in the company, valued at $2,769,121.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sharon T. Rowlands acquired 8,600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average price of $58.63 per share, for a total transaction of $504,218.00. Following the completion of the purchase, the director now directly owns 30,871 shares of the company’s stock, valued at approximately $1,809,966.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Leon Trefler sold 752 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,211.68. Following the completion of the transaction, the insider now owns 38,412 shares of the company’s stock, valued at approximately $2,769,121.08. The disclosure for this sale can be found here. Insiders have sold 24,525 shares of company stock valued at $1,668,804 over the last quarter. 50.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Pegasystems

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its stake in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after buying an additional 226 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Pegasystems during the fourth quarter worth about $26,000. Parkside Financial Bank & Trust boosted its stake in shares of Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after buying an additional 364 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Pegasystems during the fourth quarter worth about $44,000. Finally, Versant Capital Management Inc boosted its stake in shares of Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after buying an additional 756 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.