Pegasystems Inc. (PEGA) Upgraded to Strong-Buy by BidaskClub
Pegasystems Inc. (NASDAQ:PEGA) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.
Other equities research analysts have also recently issued research reports about the company. Benchmark Co. reaffirmed a “buy” rating and issued a $67.00 price target (up previously from $60.00) on shares of Pegasystems in a report on Tuesday, June 6th. JMP Securities reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $55.00) on shares of Pegasystems in a report on Wednesday, June 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target (down previously from $67.00) on shares of Pegasystems in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Pegasystems has a consensus rating of “Buy” and a consensus target price of $53.80.
Shares of Pegasystems (PEGA) traded up 0.952% during trading on Friday, hitting $60.975. The stock had a trading volume of 153,089 shares. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 111.881 and a beta of 1.46. Pegasystems has a 52-week low of $24.71 and a 52-week high of $64.85. The firm’s 50-day moving average is $58.65 and its 200 day moving average is $45.55.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.23 by $0.16. Pegasystems had a return on equity of 14.77% and a net margin of 5.26%. The firm had revenue of $223.20 million during the quarter, compared to analysts’ expectations of $200.52 million. During the same quarter last year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts expect that Pegasystems will post $1.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be issued a $0.03 dividend. The ex-dividend date is Thursday, June 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. Pegasystems’s dividend payout ratio is presently 23.08%.
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In other Pegasystems news, Director Richard H. Jones sold 19,600 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $55.65, for a total transaction of $1,090,740.00. Following the completion of the sale, the director now owns 569,769 shares of the company’s stock, valued at $31,707,644.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Douglas I. Kra sold 1,469 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $45.39, for a total value of $66,677.91. Following the sale, the senior vice president now directly owns 23,730 shares of the company’s stock, valued at approximately $1,077,104.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,975 shares of company stock valued at $4,100,511. Insiders own 53.61% of the company’s stock.
A number of large investors have recently bought and sold shares of PEGA. Russell Investments Group Ltd. acquired a new stake in Pegasystems during the fourth quarter valued at about $1,275,000. State Street Corp boosted its stake in Pegasystems by 3.6% in the fourth quarter. State Street Corp now owns 658,580 shares of the technology company’s stock valued at $23,713,000 after buying an additional 22,941 shares during the period. Norges Bank acquired a new stake in Pegasystems during the fourth quarter valued at about $9,798,000. USA Financial Portformulas Corp acquired a new stake in Pegasystems during the fourth quarter valued at about $317,000. Finally, Teachers Advisors LLC boosted its stake in Pegasystems by 54.6% in the fourth quarter. Teachers Advisors LLC now owns 107,736 shares of the technology company’s stock valued at $3,878,000 after buying an additional 38,047 shares during the period. 44.12% of the stock is owned by institutional investors.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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