Pegasystems (PEGA) Upgraded at BidaskClub

BidaskClub upgraded shares of Pegasystems (NASDAQ:PEGA) from a hold rating to a buy rating in a report released on Friday morning.

Several other research firms have also weighed in on PEGA. Benchmark raised their price objective on shares of Pegasystems from $67.00 to $72.00 and gave the stock a buy rating in a report on Monday, March 12th. Wedbush reissued an outperform rating and set a $61.85 price target (down from $73.00) on shares of Pegasystems in a research note on Friday, March 16th. Zacks Investment Research raised shares of Pegasystems from a hold rating to a buy rating and set a $64.00 price target on the stock in a research note on Wednesday, February 28th. Finally, UBS reissued an overweight rating and set a $65.00 price target on shares of Pegasystems in a research note on Tuesday, February 27th. Seven analysts have rated the stock with a buy rating, Pegasystems presently has a consensus rating of Buy and an average target price of $63.81.

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Shares of Pegasystems (PEGA) opened at $58.60 on Friday. The firm has a market cap of $4,576.63, a P/E ratio of 139.52 and a beta of 1.08. Pegasystems has a fifty-two week low of $40.75 and a fifty-two week high of $64.85.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Monday, February 26th. The technology company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The company had revenue of $239.54 million during the quarter, compared to analyst estimates of $208.48 million. Pegasystems had a net margin of 3.92% and a return on equity of 9.68%. The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the business posted $0.20 earnings per share. equities research analysts predict that Pegasystems will post 0.72 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, March 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. Pegasystems’s dividend payout ratio (DPR) is currently 30.00%.

In other news, Director Steven F. Kaplan sold 8,585 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $62.31, for a total transaction of $534,931.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael R. Pyle sold 4,000 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $47.61, for a total transaction of $190,440.00. Following the sale, the vice president now directly owns 46,524 shares in the company, valued at $2,215,007.64. The disclosure for this sale can be found here. Insiders have sold 27,329 shares of company stock worth $1,526,648 over the last three months. 53.61% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in Pegasystems by 208.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,048 shares of the technology company’s stock valued at $144,000 after acquiring an additional 2,061 shares during the last quarter. Virtu Financial LLC boosted its stake in Pegasystems by 47.2% in the fourth quarter. Virtu Financial LLC now owns 5,816 shares of the technology company’s stock valued at $274,000 after acquiring an additional 1,865 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Pegasystems by 58.0% in the third quarter. Great West Life Assurance Co. Can now owns 4,935 shares of the technology company’s stock valued at $282,000 after acquiring an additional 1,811 shares during the last quarter. Advisor Group Inc. boosted its stake in Pegasystems by 792.9% in the third quarter. Advisor Group Inc. now owns 5,134 shares of the technology company’s stock valued at $296,000 after acquiring an additional 4,559 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Pegasystems by 189.2% in the third quarter. Sei Investments Co. now owns 6,064 shares of the technology company’s stock valued at $349,000 after acquiring an additional 3,967 shares during the last quarter. 47.73% of the stock is currently owned by institutional investors and hedge funds.

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About Pegasystems

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

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