Pegasystems (NASDAQ:PEGA) Cut to “Neutral” at DA Davidson

DA Davidson lowered shares of Pegasystems (NASDAQ:PEGA) from a buy rating to a neutral rating in a report issued on Monday, Marketbeat Ratings reports. They currently have $32.00 price objective on the technology company’s stock.

Several other brokerages have also commented on PEGA. Zacks Research upgraded shares of Pegasystems from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 22nd. William Blair downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Barclays reissued an “overweight” rating and issued a $39.00 target price (down from $48.00) on shares of Pegasystems in a research report on Thursday, July 23rd. Loop Capital cut Pegasystems from a “buy” rating to a “hold” rating and lowered their target price for the company from $55.00 to $25.00 in a research note on Thursday, July 23rd. Finally, Citizens Jmp lowered Pegasystems from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.40.

Pegasystems Trading Up 0.9%

Shares of NASDAQ PEGA opened at $33.28 on Monday. Pegasystems has a 12 month low of $25.10 and a 12 month high of $68.10. The firm has a market capitalization of $5.47 billion, a PE ratio of 18.80 and a beta of 0.89. The firm has a fifty day simple moving average of $33.75 and a two-hundred day simple moving average of $35.14.

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). Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The company had revenue of $420.72 million during the quarter, compared to analysts’ expectations of $427.38 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Pegasystems will post 1.69 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio (DPR) is currently 6.78%.

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios Kouninis sold 1,063 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $38.75, for a total value of $41,191.25. Following the sale, the chief accounting officer directly owned 1,164 shares of the company’s stock, valued at $45,105. The trade was a 47.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dianne Ledingham sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $38.00, for a total value of $38,000.00. Following the completion of the sale, the director owned 39,280 shares in the company, valued at $1,492,640. The trade was a 2.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,672 shares of company stock valued at $1,887,507 over the last ninety days. Company insiders own 48.40% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

Several hedge funds have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. grew its stake in shares of Pegasystems by 59.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 35,691 shares of the technology company’s stock worth $1,070,000 after acquiring an additional 13,264 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Pegasystems by 20.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,406 shares of the technology company’s stock worth $282,000 after purchasing an additional 1,583 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Pegasystems by 59.8% in the 2nd quarter. WINTON GROUP Ltd now owns 40,987 shares of the technology company’s stock worth $1,228,000 after purchasing an additional 15,343 shares in the last quarter. NewEdge Advisors LLC grew its position in Pegasystems by 4.6% during the 2nd quarter. NewEdge Advisors LLC now owns 20,032 shares of the technology company’s stock valued at $600,000 after purchasing an additional 887 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in Pegasystems during the 2nd quarter valued at about $5,007,000. 46.89% of the stock is owned by institutional investors.

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.