A number of other brokerages have also issued reports on PEGA. Benchmark Co. upgraded shares of Pegasystems from a hold rating to a buy rating and increased their target price for the stock from $34.00 to $52.00 in a research report on Tuesday, March 7th. Zacks Investment Research lowered shares of Pegasystems from a hold rating to a sell rating in a research report on Thursday, March 2nd. TheStreet upgraded shares of Pegasystems from a c+ rating to a b rating in a research report on Friday, February 24th. Finally, Sidoti lowered shares of Pegasystems from a buy rating to a neutral rating in a research report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $53.80.
Shares of Pegasystems (PEGA) opened at 59.65 on Thursday. The company’s 50-day moving average price is $55.16 and its 200-day moving average price is $43.96. Pegasystems has a 52-week low of $24.71 and a 52-week high of $64.85. The firm has a market capitalization of $4.60 billion, a P/E ratio of 109.45 and a beta of 1.45.
Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, May 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.16. Pegasystems had a net margin of 5.26% and a return on equity of 14.77%. The firm had revenue of $223.20 million for the quarter, compared to analyst estimates of $200.52 million. During the same quarter in the prior year, the business posted $0.23 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts expect that Pegasystems will post $1.06 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, June 29th. Pegasystems’s payout ratio is 23.08%.
In other news, Director Richard H. Jones sold 19,600 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $55.65, for a total transaction of $1,090,740.00. Following the completion of the sale, the director now directly owns 569,769 shares in the company, valued at $31,707,644.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael R. Pyle sold 1,860 shares of the stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $43.16, for a total transaction of $80,277.60. Following the sale, the vice president now owns 28,554 shares of the company’s stock, valued at $1,232,390.64. The disclosure for this sale can be found here. In the last three months, insiders sold 43,576 shares of company stock valued at $2,445,526. 53.61% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in Pegasystems during the first quarter valued at $137,000. Bank of Montreal Can boosted its stake in Pegasystems by 31.4% in the first quarter. Bank of Montreal Can now owns 4,723 shares of the technology company’s stock worth $208,000 after buying an additional 1,129 shares during the last quarter. Cambridge Trust Co. bought a new stake in Pegasystems during the first quarter worth approximately $219,000. Suntrust Banks Inc. bought a new stake in Pegasystems during the third quarter worth approximately $222,000. Finally, Janus Capital Management LLC bought a new stake in Pegasystems during the first quarter worth approximately $239,000. Institutional investors own 44.12% of the company’s stock.
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 platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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