Pegasystems (NASDAQ:PEGA) Sets New 12-Month High – Here’s What Happened

Pegasystems Inc. (NASDAQ:PEGA) shares hit a new 52-week high during trading on Monday . The stock traded as high as $109.95 and last traded at $108.41, with a volume of 227696 shares traded. The stock had previously closed at $108.11.

Analysts Set New Price Targets

PEGA has been the topic of a number of analyst reports. StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Citigroup increased their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada raised their price target on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Rosenblatt Securities increased their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Wedbush lifted their target price on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.91.

Pegasystems Trading Up 5.8 %

The stock’s 50-day moving average price is $96.70 and its 200-day moving average price is $80.44. The company has a market cap of $9.63 billion, a P/E ratio of 81.96 and a beta of 1.09.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.11%. Pegasystems’s payout ratio is currently 8.76%.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 528 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total value of $43,824.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Leon Trefler sold 8,288 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $81.23, for a total value of $673,234.24. Following the sale, the insider now directly owns 37,636 shares of the company’s stock, valued at $3,057,172.28. This represents a 18.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,819 shares of company stock worth $1,851,885 over the last quarter. 50.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in Pegasystems in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC grew its stake in shares of Pegasystems by 49.1% in the 3rd 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 stake in shares of Pegasystems in the third quarter valued at about $57,000. Capital Performance Advisors LLP bought a new position in shares of Pegasystems during the third quarter valued at about $67,000. Finally, Eastern Bank purchased a new position in Pegasystems during the third quarter worth about $146,000. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.