Analysts Set Pegasystems Inc. (NASDAQ:PEGA) PT at $70.05

Shares of Pegasystems Inc. (NASDAQ:PEGA) have received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $70.05.

A number of research firms have issued reports on PEGA. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pegasystems in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Pegasystems from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. DA Davidson upgraded Pegasystems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $85.00 in a report on Wednesday, October 22nd. Finally, Barclays lifted their price target on shares of Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd.

Pegasystems Stock Down 1.9%

PEGA stock opened at $49.80 on Friday. The firm’s 50-day simple moving average is $57.03 and its 200 day simple moving average is $56.80. The stock has a market cap of $8.45 billion, a PE ratio of 33.42 and a beta of 1.08. Pegasystems has a fifty-two week low of $29.84 and a fifty-two week high of $68.10.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Pegasystems’s dividend payout ratio is presently 8.05%.

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 14,405 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $57.87, for a total value of $833,617.35. Following the completion of the transaction, the chief financial officer directly owned 131,621 shares of the company’s stock, valued at approximately $7,616,907.27. The trade was a 9.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $60.19, for a total transaction of $240,760.00. Following the sale, the insider owned 112,845 shares of the company’s stock, valued at approximately $6,792,140.55. This represents a 3.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 164,847 shares of company stock worth $9,308,941. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

Institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of Pegasystems by 23.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock worth $286,769,000 after acquiring an additional 937,216 shares during the last quarter. Vest Financial LLC bought a new position in Pegasystems during the 3rd quarter valued at $1,515,000. Nordea Investment Management AB raised its stake in shares of Pegasystems by 100.9% in the 2nd quarter. Nordea Investment Management AB now owns 196,065 shares of the technology company’s stock valued at $10,492,000 after purchasing an additional 98,468 shares in the last quarter. Herald Investment Management Ltd lifted its position in shares of Pegasystems by 100.0% during the second quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock worth $38,086,000 after purchasing an additional 351,800 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Pegasystems by 60.3% in the second quarter. Allianz Asset Management GmbH now owns 240,225 shares of the technology company’s stock valued at $13,003,000 after buying an additional 90,404 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

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.