Pegasystems Inc. (NASDAQ:PEGA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pegasystems Inc. (NASDAQ:PEGA) has been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $63.30.

A number of equities research analysts recently weighed in on PEGA shares. Citigroup reissued a “market outperform” rating on shares of Pegasystems in a research report on Wednesday, June 10th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a report on Thursday, April 23rd. Zacks Research lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. DA Davidson restated a “buy” rating and set a $55.00 target price on shares of Pegasystems in a research report on Wednesday, June 10th. Finally, Citizens Jmp restated a “market outperform” rating and set a $58.00 target price on shares of Pegasystems in a research report on Wednesday, June 10th.

Pegasystems Price Performance

Shares of PEGA opened at $29.97 on Wednesday. Pegasystems has a 1-year low of $28.66 and a 1-year high of $68.10. The stock has a market cap of $5.01 billion, a PE ratio of 16.11 and a beta of 0.86. The firm has a fifty day moving average price of $34.14 and a 200 day moving average price of $43.32.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The company had revenue of $429.97 million during the quarter, compared to analysts’ expectations of $473.24 million. During the same period last year, the firm earned $0.76 earnings per share. Pegasystems’s revenue was down 9.6% on a year-over-year basis. As a group, equities analysts expect that Pegasystems will post 1.93 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Pegasystems’s dividend payout ratio is presently 6.45%.

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.99, for a total value of $27,742.50. Following the completion of the sale, the chief accounting officer directly owned 2,144 shares of the company’s stock, valued at approximately $79,306.56. This represents a 25.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the sale, the insider directly owned 107,070 shares of the company’s stock, valued at $3,570,784.50. The trade was a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,795 shares of company stock valued at $229,613 over the last ninety days. Corporate insiders own 48.40% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new stake in shares of Pegasystems in the fourth quarter valued at about $28,000. EFG International AG purchased a new stake in shares of Pegasystems in the fourth quarter valued at about $32,000. Fifth Third Bancorp raised its holdings in shares of Pegasystems by 96.5% in the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock valued at $37,000 after buying an additional 303 shares during the last quarter. Bayforest Capital Ltd raised its holdings in shares of Pegasystems by 316.6% in the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after buying an additional 535 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Pegasystems by 386.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock valued at $42,000 after buying an additional 564 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.