Pegasystems’ (PEGA) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Pegasystems (NASDAQ:PEGA) in a report published on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $47.00 target price on the technology company’s stock.

Several other research analysts have also issued reports on PEGA. DA Davidson lowered Pegasystems from a “buy” rating to a “neutral” rating and set a $32.00 price objective for the company. in a research note on Monday, September 28th. Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Loop Capital downgraded shares of Pegasystems from a “buy” rating to a “hold” rating and reduced their target price for the company from $55.00 to $25.00 in a research note on Thursday, July 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $47.00 target price (down from $54.00) on shares of Pegasystems in a report on Thursday, September 17th. Finally, KeyCorp cut shares of Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.90.

Pegasystems Trading Down 3.9%

PEGA stock opened at $34.54 on Thursday. Pegasystems has a 1-year low of $25.10 and a 1-year high of $68.10. The firm has a market cap of $5.68 billion, a P/E ratio of 19.51 and a beta of 0.89. The business’s 50 day moving average is $34.84 and its 200-day moving average is $34.54.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%. Pegasystems’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. Sell-side analysts forecast that Pegasystems will post 1.69 EPS for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, October 1st. Pegasystems’s payout ratio is presently 6.78%.

Insiders Place Their Bets

In other Pegasystems news, Director Dianne Ledingham sold 1,000 shares of Pegasystems stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $34.15, for a total value of $34,150.00. Following the completion of the transaction, the director owned 38,280 shares in the company, valued at approximately $1,307,262. The trade was a 2.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerim Akgonul sold 7,000 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $36.03, for a total value of $252,210.00. Following the completion of the transaction, the insider directly owned 104,804 shares in the company, valued at approximately $3,776,088.12. This represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,672 shares of company stock valued at $1,921,657 in the last 90 days. Insiders own 48.40% of the company’s stock.

Institutional Trading of Pegasystems

A number of hedge funds and other institutional investors have recently made changes to their positions in PEGA. GAMMA Investing LLC boosted its holdings in Pegasystems by 21.6% during the third quarter. GAMMA Investing LLC now owns 1,597 shares of the technology company’s stock worth $53,000 after buying an additional 284 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Pegasystems by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company’s stock worth $936,000 after buying an additional 300 shares during the period. Diversified Trust Co increased its stake in shares of Pegasystems by 3.2% in the 1st quarter. Diversified Trust Co now owns 11,364 shares of the technology company’s stock valued at $484,000 after acquiring an additional 350 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Pegasystems by 2.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,700 shares of the technology company’s stock valued at $796,000 after acquiring an additional 400 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of Pegasystems by 3.4% in the 1st quarter. State of Wyoming now owns 12,709 shares of the technology company’s stock valued at $541,000 after acquiring an additional 423 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

About Pegasystems

Pegasystems Inc is an enterprise software company that develops applications for customer engagement, business process management and workflow automation. Its software is designed to help organizations manage complex operations, improve customer service and automate decision-making across departments and channels.

The company’s product portfolio includes Pega Platform, a low-code application development and process automation platform, as well as solutions for customer relationship management, customer service, sales automation, marketing, fraud detection and case management.