Pegasystems (NASDAQ:PEGA) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Pegasystems (NASDAQ:PEGA – Free Report) from a buy rating to a strong-buy rating in a research report report published on Monday.

Several other research analysts have also weighed in on PEGA. William Blair raised Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. JMP Securities raised Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Wednesday, July 31st. Citigroup lifted their price objective on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price objective on shares of Pegasystems in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

Check Out Our Latest Stock Analysis on Pegasystems

Pegasystems Stock Down 0.3 %

Shares of NASDAQ:PEGA opened at $73.30 on Monday. The firm has a market cap of $6.23 billion, a P/E ratio of 89.39 and a beta of 1.07. Pegasystems has a 12-month low of $37.66 and a 12-month high of $74.50. The business has a fifty day simple moving average of $69.42 and a 200 day simple moving average of $63.67.

Pegasystems (NASDAQ:PEGA – Get Free Report) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The business had revenue of $351.20 million during the quarter, compared to analyst estimates of $323.55 million. During the same period last year, the company earned ($0.41) EPS. Pegasystems’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research analysts expect that Pegasystems will post 1.54 EPS for the current year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. Pegasystems’s dividend payout ratio (DPR) is currently 14.63%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the transaction, the chief financial officer now owns 17,262 shares in the company, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the transaction, the chief financial officer now owns 17,262 shares in the company, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $72.00, for a total value of $54,144.00. Following the completion of the transaction, the insider now owns 38,388 shares in the company, valued at $2,763,936. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,955 shares of company stock worth $3,206,247. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently modified their holdings of PEGA. Versant Capital Management Inc boosted its stake in shares of Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after buying an additional 756 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Pegasystems by 64.0% in the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after buying an additional 339 shares during the last quarter. Covestor Ltd boosted its stake in shares of Pegasystems by 633.9% in the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after buying an additional 1,065 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Pegasystems in the 2nd quarter worth approximately $104,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of Pegasystems in the 2nd quarter worth approximately $124,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

About Pegasystems

(Get Free Report)

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.

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