Pegasystems Inc. (NASDAQ:PEGA) Receives Average Rating of “Hold” from Brokerages

Pegasystems Inc. (NASDAQ:PEGA) has received an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $50.10.

PEGA has been the topic of a number of recent analyst reports. KeyCorp downgraded Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Rosenblatt Securities reduced their target price on Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. DA Davidson set a $32.00 target price on Pegasystems and gave the company a “buy” rating in a research report on Friday, July 24th. Citizens Jmp lowered Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Finally, William Blair cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd.

Insider Activity

In related news, insider Kerim Akgonul sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $33.99, for a total transaction of $101,970.00. Following the completion of the transaction, the insider owned 108,049 shares in the company, valued at $3,672,585.51. This represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 1,063 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total transaction of $41,191.25. Following the completion of the transaction, the chief accounting officer directly owned 1,164 shares in the company, valued at $45,105. This represents a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,813 shares of company stock worth $167,394. Company insiders own 48.40% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds have recently made changes to their positions in PEGA. Sei Investments Co. boosted its position in Pegasystems by 52.9% during the first quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company’s stock worth $44,782,000 after acquiring an additional 363,896 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Pegasystems by 117.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock worth $34,427,000 after purchasing an additional 439,417 shares in the last quarter. Norges Bank purchased a new stake in shares of Pegasystems in the fourth quarter valued at approximately $31,905,000. Fisher Asset Management LLC grew its position in shares of Pegasystems by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after purchasing an additional 33,643 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Pegasystems by 259.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 411,262 shares of the technology company’s stock valued at $26,144,000 after purchasing an additional 296,916 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Stock Performance

PEGA stock opened at $36.24 on Monday. The firm has a market cap of $5.96 billion, a PE ratio of 20.47 and a beta of 0.89. The firm’s fifty day moving average is $32.73 and its 200 day moving average is $36.08. Pegasystems has a one year low of $25.10 and a one year high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The firm had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. During the same quarter last year, the company posted $0.28 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Research analysts predict that Pegasystems will post 1.66 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Pegasystems’s dividend payout ratio (DPR) is presently 6.78%.

Pegasystems Company Profile

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.