Pegasystems Inc. (PEGA) Rating Reiterated by Wedbush
Pegasystems Inc. (NASDAQ:PEGA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Tuesday. They currently have a $32.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 10.92% from the company’s previous close.
A number of other brokerages also recently commented on PEGA. Zacks Investment Research raised shares of Pegasystems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. JMP Securities reissued a “buy” rating on shares of Pegasystems in a research note on Wednesday, June 8th. Finally, TheStreet downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Pegasystems has an average rating of “Hold” and a consensus target price of $30.67.
Pegasystems (NASDAQ:PEGA) opened at 28.85 on Tuesday. Pegasystems has a 1-year low of $20.38 and a 1-year high of $30.23. The stock has a 50 day moving average price of $26.31 and a 200-day moving average price of $26.37. The stock has a market capitalization of $2.20 billion, a P/E ratio of 56.57 and a beta of 1.88.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company earned $189 million during the quarter, compared to the consensus estimate of $185.19 million. Pegasystems had a net margin of 5.44% and a return on equity of 16.25%. Pegasystems’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Equities research analysts expect that Pegasystems will post $0.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Thursday, September 29th. Pegasystems’s payout ratio is presently 24.00%.
In related news, Director William W. Wyman sold 16,700 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $27.91, for a total value of $466,097.00. Following the transaction, the director now directly owns 16,741 shares of the company’s stock, valued at approximately $467,241.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Jones sold 1,500 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $27.53, for a total value of $41,295.00. Following the completion of the transaction, the director now directly owns 633,509 shares in the company, valued at $17,440,502.77. The disclosure for this sale can be found here. Insiders own 53.44% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its position in Pegasystems by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 5,330 shares of the company’s stock valued at $144,000 after buying an additional 654 shares during the last quarter. Legal & General Group Plc increased its position in Pegasystems by 9.2% in the first quarter. Legal & General Group Plc now owns 9,285 shares of the company’s stock valued at $235,000 after buying an additional 782 shares during the last quarter. Swiss National Bank increased its position in Pegasystems by 1.2% in the second quarter. Swiss National Bank now owns 65,000 shares of the company’s stock valued at $1,752,000 after buying an additional 800 shares during the last quarter. Teachers Advisors Inc. increased its position in Pegasystems by 2.0% in the first quarter. Teachers Advisors Inc. now owns 52,697 shares of the company’s stock valued at $1,337,000 after buying an additional 1,049 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Pegasystems by 3.0% in the second quarter. Rhumbline Advisers now owns 39,682 shares of the company’s stock valued at $1,069,000 after buying an additional 1,157 shares during the last quarter. 41.74% of the stock is currently owned by hedge funds and other institutional investors.
Pegasystems Company Profile
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 7 platform. Its software is designed to assist clients in building, deploying, and evolving enterprise applications.
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