Pegasystems’ (PEGA) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a research report released on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $90.00 price target on the technology company’s stock.

PEGA has been the subject of several other reports. Royal Bank of Canada boosted their target price on shares of Pegasystems from $77.00 to $90.00 and gave the company an outperform rating in a research note on Friday, July 26th. Barclays boosted their price target on Pegasystems from $69.00 to $74.00 and gave the stock an equal weight rating in a research report on Friday, July 26th. DA Davidson boosted their price target on shares of Pegasystems from $60.00 to $70.00 and gave the stock a neutral rating in a research report on Friday, July 26th. Wedbush restated an outperform rating and issued a $90.00 target price on shares of Pegasystems in a report on Monday, July 29th. Finally, JMP Securities raised shares of Pegasystems from a market perform rating to an outperform rating and set a $85.00 price target on the stock in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $83.60.

Pegasystems Stock Up 1.3 %

Pegasystems stock opened at $73.67 on Tuesday. The firm has a market cap of $6.26 billion, a P/E ratio of 89.84 and a beta of 1.07. The business has a fifty day moving average of $68.66 and a two-hundred day moving average of $63.37. Pegasystems has a twelve month low of $37.66 and a twelve month high of $74.40.

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

Pegasystems Dividend Announcement

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

Insider Transactions at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the sale, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at $54,211.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the sale, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at approximately $54,211.68. This represents a 0.00 % 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, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were 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 directly owns 17,262 shares in the company, valued at $1,263,060.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,955 shares of company stock valued at $3,206,247. 50.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its stake in 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 acquiring an additional 756 shares during the period. Headlands Technologies LLC raised its stake in Pegasystems by 64.0% during the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after purchasing an additional 339 shares during the period. Covestor Ltd raised its stake in Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,065 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Pegasystems during the 2nd quarter valued at $104,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Pegasystems during the 2nd quarter valued at $124,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.