Pegasystems Inc. (NASDAQ:PEGA) Stock Has Average Price Target of $45.73

Pegasystems Inc. (NASDAQ:PEGA) has been given an average rating of “Hold” by the fifteen brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $45.73.

A number of research analysts recently commented on the stock. KeyCorp downgraded shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 22nd. Zacks Research cut Pegasystems from a “hold” rating to a “strong sell” rating in a research note on Friday, October 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $40.00 price objective (up from $35.00) on shares of Pegasystems in a research note on Thursday, October 22nd. JPMorgan Chase & Co. downgraded Pegasystems from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $54.00 to $47.00 in a research report on Thursday, September 17th. Finally, Citizens Jmp lowered Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd.

Insider Buying and Selling at Pegasystems

In related news, CFO Kenneth Stillwell sold 39,627 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $35.77, for a total transaction of $1,417,457.79. Following the transaction, the chief financial officer directly owned 95,225 shares in the company, valued at approximately $3,406,198.25. This represents a 29.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kerim Akgonul sold 7,084 shares of the company’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $35.22, for a total transaction of $249,498.48. Following the transaction, the insider owned 97,958 shares in the company, valued at $3,450,080.76. The trade was a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 63,730 shares of company stock valued at $2,271,409. Insiders own 48.40% of the company’s stock.

Institutional Trading of Pegasystems

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC lifted its holdings in shares of Pegasystems by 234.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 24,028 shares of the technology company’s stock worth $800,000 after buying an additional 16,842 shares during the period. Commonwealth Equity Services LLC bought a new stake in shares of Pegasystems in the third quarter valued at about $302,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pegasystems in the third quarter valued at about $437,000. Vise Technologies Inc. raised its holdings in shares of Pegasystems by 141.5% in the third quarter. Vise Technologies Inc. now owns 16,921 shares of the technology company’s stock valued at $563,000 after acquiring an additional 9,913 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Pegasystems by 64.9% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 97,350 shares of the technology company’s stock worth $3,240,000 after acquiring an additional 38,300 shares during the period. Institutional investors own 46.89% of the company’s stock.

Pegasystems Stock Performance

NASDAQ PEGA opened at $34.58 on Tuesday. The stock has a 50 day moving average price of $35.31 and a 200-day moving average price of $37.16. Pegasystems has a one year low of $25.10 and a one year high of $63.97. The company has a market capitalization of $5.66 billion, a P/E ratio of 21.48 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, October 20th. The technology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The business had revenue of $393.36 million during the quarter, compared to analysts’ expectations of $421.06 million. Pegasystems had a return on equity of 35.22% and a net margin of 16.86%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. As a group, equities analysts predict that Pegasystems will post 1.42 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Pegasystems’s payout ratio is currently 7.45%.

About Pegasystems

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.