Pegasystems Inc. (PEGA) Given Average Recommendation of “Buy” by Brokerages
Shares of Pegasystems Inc. (NASDAQ:PEGA) have received an average rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $61.75.
A number of research analysts recently commented on the company. Zacks Investment Research raised Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Wednesday, July 19th. Mitsubishi UFJ Financial Group set a $57.00 target price on Pegasystems and gave the company a “buy” rating in a research note on Thursday, August 10th. Finally, BidaskClub raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th.
Pegasystems (NASDAQ PEGA) traded up 0.17% during midday trading on Wednesday, hitting $59.75. The company had a trading volume of 87,917 shares. The firm’s 50 day moving average is $57.16 and its 200-day moving average is $55.07. The firm has a market capitalization of $4.64 billion, a P/E ratio of 95.60 and a beta of 1.48. Pegasystems has a 52 week low of $28.43 and a 52 week high of $64.85.
Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, August 9th. The technology company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.04). The firm had revenue of $197.98 million during the quarter, compared to the consensus estimate of $205.06 million. Pegasystems had a net margin of 6.17% and a return on equity of 13.06%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. On average, equities research analysts expect that Pegasystems will post $0.97 EPS for the current fiscal year.
The business also recently disclosed a dividend, which was paid on Friday, October 6th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 29th. Pegasystems’s dividend payout ratio (DPR) is currently 19.67%.
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In other news, Director Richard H. Jones sold 11,200 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $59.97, for a total transaction of $671,664.00. Following the transaction, the director now directly owns 529,292 shares of the company’s stock, valued at $31,741,641.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 4,283 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $60.48, for a total value of $259,035.84. Following the transaction, the chief financial officer now directly owns 8,746 shares in the company, valued at $528,958.08. The disclosure for this sale can be found here. Insiders have sold 31,432 shares of company stock worth $1,834,674 over the last ninety days. Insiders own 53.61% of the company’s stock.
Large investors have recently made changes to their positions in the company. Comerica Bank bought a new position in shares of Pegasystems during the second quarter valued at about $1,234,000. Scout Investments Inc. grew its stake in shares of Pegasystems by 3.9% during the second quarter. Scout Investments Inc. now owns 95,225 shares of the technology company’s stock valued at $5,556,000 after buying an additional 3,575 shares during the last quarter. Vista Equity Partners Management LLC grew its stake in shares of Pegasystems by 81.2% during the first quarter. Vista Equity Partners Management LLC now owns 302,571 shares of the technology company’s stock valued at $13,268,000 after buying an additional 135,582 shares during the last quarter. Credit Suisse AG grew its stake in shares of Pegasystems by 403.2% during the first quarter. Credit Suisse AG now owns 159,924 shares of the technology company’s stock valued at $7,013,000 after buying an additional 128,144 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Pegasystems during the second quarter valued at about $782,000. 44.47% of the stock is currently owned by hedge funds and other institutional investors.
Pegasystems Company Profile
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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