Pegasystems (NASDAQ:PEGA) Price Target Cut to $66.00

Pegasystems (NASDAQ:PEGA) had its price objective reduced by Barclays from $68.00 to $66.00 in a research report report published on Monday, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Wedbush reiterated an outperform rating and set a $90.00 price target on shares of Pegasystems in a research note on Wednesday, April 10th. StockNews.com upgraded shares of Pegasystems from a buy rating to a strong-buy rating in a research note on Tuesday, February 13th. TheStreet upgraded shares of Pegasystems from a d+ rating to a c rating in a research note on Thursday, February 15th. Royal Bank of Canada lifted their target price on shares of Pegasystems from $65.00 to $77.00 and gave the company an outperform rating in a research note on Friday, February 16th. Finally, Citigroup lifted their target price on shares of Pegasystems from $86.00 to $87.00 and gave the company a buy rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $70.56.

Pegasystems Trading Down 0.9 %

Shares of Pegasystems stock opened at $58.40 on Monday. The company’s fifty day simple moving average is $62.40 and its 200-day simple moving average is $52.46. The stock has a market capitalization of $4.90 billion, a PE ratio of 82.25 and a beta of 1.06. Pegasystems has a 1-year low of $37.66 and a 1-year high of $69.26. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.78 and a quick ratio of 1.78.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.64. The business had revenue of $474.23 million for the quarter, compared to analysts’ expectations of $428.76 million. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. As a group, equities analysts anticipate that Pegasystems will post 1.49 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, March 28th. Pegasystems’s payout ratio is currently 16.90%.

Insiders Place Their Bets

In other Pegasystems news, CAO Efstathios A. Kouninis sold 395 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total value of $25,576.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Efstathios A. Kouninis sold 395 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total value of $25,576.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kenneth Stillwell sold 20,606 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the sale, the chief financial officer now owns 24,535 shares in the company, valued at $1,549,875.95. The disclosure for this sale can be found here. Insiders have sold a total of 43,792 shares of company stock worth $2,781,669 in the last 90 days. 50.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Pegasystems

A number of large investors have recently made changes to their positions in the business. Range Financial Group LLC bought a new stake in shares of Pegasystems in the 1st quarter worth about $209,000. FCF Advisors LLC bought a new position in Pegasystems during the 1st quarter valued at about $1,497,000. Los Angeles Capital Management LLC grew its holdings in Pegasystems by 0.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 327,107 shares of the technology company’s stock valued at $21,144,000 after purchasing an additional 1,979 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Pegasystems during the 4th quarter valued at about $169,000. Finally, Quadrature Capital Ltd bought a new position in Pegasystems during the 4th quarter valued at about $346,000. 46.89% of the stock is currently owned by 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.