Pegasystems (NASDAQ:PEGA) Price Target Raised to $115.00

Pegasystems (NASDAQ:PEGA) had its target price raised by Royal Bank of Canada from $90.00 to $115.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other analysts have also issued reports about the stock. Barclays boosted their price target on shares of Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Wedbush boosted their price objective on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Rosenblatt Securities boosted their price objective on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Finally, Citigroup boosted their price objective on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $94.50 on Friday. The firm has a market capitalization of $8.10 billion, a PE ratio of 68.98 and a beta of 1.09. The firm’s 50-day moving average is $91.18 and its two-hundred day moving average is $75.25. Pegasystems has a 1 year low of $44.07 and a 1 year high of $97.94.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The company had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. Analysts expect that Pegasystems will post 1.61 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Thursday, January 2nd. Pegasystems’s dividend payout ratio is currently 8.76%.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 299 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.07, for a total value of $80,070.00. Following the sale, the insider now owns 47,119 shares of the company’s stock, valued at $3,772,818.33. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,914 shares of company stock worth $2,414,935. 50.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

Several large investors have recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in Pegasystems in the third quarter worth $27,000. Venturi Wealth Management LLC raised its position in Pegasystems by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after acquiring an additional 216 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in Pegasystems in the third quarter worth $57,000. Capital Performance Advisors LLP purchased a new position in Pegasystems in the third quarter worth $67,000. Finally, Headlands Technologies LLC raised its position in Pegasystems by 29.9% in the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors 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.