Pegasystems Inc. (NASDAQ:PEGA) Receives $50.10 Consensus PT from Brokerages

Shares of Pegasystems Inc. (NASDAQ:PEGA) have been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $50.10.

A number of brokerages have commented on PEGA. Rosenblatt Securities decreased their price objective on Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Loop Capital lowered Pegasystems from a “buy” rating to a “hold” rating and dropped their target price for the company from $55.00 to $25.00 in a report on Thursday, July 23rd. KeyCorp cut Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Citigroup lowered Pegasystems from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, July 22nd. Finally, Citizens Jmp cut Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd.

Pegasystems Stock Down 2.2%

Shares of PEGA opened at $35.03 on Monday. The business’s fifty day moving average is $32.53 and its 200 day moving average is $36.15. Pegasystems has a 12-month low of $25.10 and a 12-month high of $68.10. The stock has a market cap of $5.76 billion, a P/E ratio of 19.79 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. On average, analysts expect that Pegasystems will post 1.71 EPS for the current year.

Pegasystems Dividend Announcement

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

Insider Activity at Pegasystems

In other news, insider Kerim Akgonul sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $33.99, for a total value of $101,970.00. Following the completion of the transaction, the insider directly owned 108,049 shares of the company’s stock, valued at $3,672,585.51. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Efstathios Kouninis sold 1,063 shares of Pegasystems stock in a transaction 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 owned 1,164 shares in the company, valued at $45,105. This trade represents a 47.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 4,813 shares of company stock worth $167,394. Insiders own 48.40% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Several large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its position in shares of Pegasystems by 20.2% during the second quarter. Sequoia Financial Advisors LLC now owns 9,406 shares of the technology company’s stock worth $282,000 after acquiring an additional 1,583 shares in the last quarter. WINTON GROUP Ltd grew its position in shares of Pegasystems by 59.8% during the 2nd quarter. WINTON GROUP Ltd now owns 40,987 shares of the technology company’s stock valued at $1,228,000 after purchasing an additional 15,343 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of 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 in the last quarter. Baird Financial Group Inc. bought a new position in shares of Pegasystems in the second quarter worth $5,007,000. Finally, Nykredit A S bought a new position in shares of Pegasystems in the second quarter worth $91,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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.