Pegasystems Inc. (NASDAQ:PEGA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Pegasystems Inc. (NASDAQ:PEGA) has been given an average rating of “Moderate Buy” by the eleven research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $70.05.

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Pegasystems from $65.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Wedbush lifted their price target on shares of Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Wall Street Zen raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Saturday. DA Davidson raised shares of Pegasystems from a “neutral” rating to a “buy” rating and increased their target price for the company from $60.00 to $85.00 in a report on Wednesday, October 22nd. Finally, Rosenblatt Securities boosted their price target on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd.

Pegasystems Price Performance

Shares of NASDAQ:PEGA opened at $43.69 on Friday. The company’s fifty day moving average price is $56.56 and its 200-day moving average price is $56.66. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 29.32 and a beta of 1.08. Pegasystems has a one year low of $29.84 and a one year high of $68.10.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a dividend of $0.03 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s dividend payout ratio is currently 8.05%.

Insider Buying and Selling

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,000 shares of Pegasystems stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $60.19, for a total value of $240,760.00. Following the transaction, the insider directly owned 112,845 shares of the company’s stock, valued at $6,792,140.55. The trade was a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 14,405 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $57.87, for a total value of $833,617.35. Following the sale, the chief financial officer directly owned 131,621 shares of the company’s stock, valued at approximately $7,616,907.27. This trade represents a 9.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 164,847 shares of company stock worth $9,308,941 in the last ninety days. 49.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Pegasystems by 2.0% during the third quarter. Vanguard Group Inc. now owns 11,272,359 shares of the technology company’s stock worth $648,161,000 after purchasing an additional 221,791 shares during the period. Massachusetts Financial Services Co. MA raised its position in Pegasystems by 23.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,987,291 shares of the technology company’s stock valued at $286,769,000 after purchasing an additional 937,216 shares during the last quarter. AQR Capital Management LLC raised its position in Pegasystems by 236.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company’s stock valued at $217,584,000 after purchasing an additional 2,836,733 shares during the last quarter. Bares Capital Management Inc. lifted its holdings in Pegasystems by 76.6% in the 2nd quarter. Bares Capital Management Inc. now owns 3,542,716 shares of the technology company’s stock worth $191,767,000 after buying an additional 1,536,726 shares during the period. Finally, State Street Corp grew its position in shares of Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company’s stock worth $157,393,000 after buying an additional 2,089,375 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.