Pegasystems (NASDAQ:PEGA) PT Raised to $90.00 at Royal Bank of Canada

Pegasystems (NASDAQ:PEGA) had its price objective raised by Royal Bank of Canada from $77.00 to $90.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Other equities analysts have also issued research reports about the company. DA Davidson lifted their target price on Pegasystems from $60.00 to $70.00 and gave the company a neutral rating in a research note on Friday. JMP Securities restated a market perform rating on shares of Pegasystems in a research note on Wednesday, June 12th. Wedbush reaffirmed an outperform rating and set a $90.00 price target on shares of Pegasystems in a research report on Wednesday, June 12th. Citigroup lowered their price objective on Pegasystems from $87.00 to $82.00 and set a buy rating for the company in a research report on Wednesday, June 26th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $75.00 target price on shares of Pegasystems in a research report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Pegasystems presently has a consensus rating of Moderate Buy and a consensus price target of $79.86.

Pegasystems Price Performance

PEGA stock opened at $65.93 on Friday. Pegasystems has a 1-year low of $37.66 and a 1-year high of $71.27. The business has a 50-day moving average price of $59.44 and a 200 day moving average price of $59.13. The company has a market capitalization of $5.63 billion, a P/E ratio of 80.40 and a beta of 1.08.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. The firm had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm earned ($0.41) earnings per share. On average, analysts anticipate that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date was Monday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.18%. Pegasystems’s payout ratio is presently 14.63%.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.39, for a total value of $120,780.00. Following the transaction, the chief financial officer now owns 22,884 shares in the company, valued at approximately $1,381,964.76. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.39, for a total value of $120,780.00. Following the sale, the chief financial officer now directly owns 22,884 shares of the company’s stock, valued at approximately $1,381,964.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $60.21, for a total value of $45,277.92. Following the transaction, the insider now owns 39,164 shares of the company’s stock, valued at approximately $2,358,064.44. The disclosure for this sale can be found here. Insiders sold a total of 6,752 shares of company stock worth $415,618 over the last three months. 50.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pegasystems

Several large investors have recently made changes to their positions in PEGA. Norges Bank purchased a new position in Pegasystems in the fourth quarter valued at $22,784,000. Vanguard Group Inc. increased its stake in shares of Pegasystems by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock valued at $217,229,000 after purchasing an additional 310,242 shares in the last quarter. Boston Partners acquired a new position in Pegasystems in the 4th quarter worth about $11,958,000. Acadian Asset Management LLC boosted its position in Pegasystems by 77.8% during the first quarter. Acadian Asset Management LLC now owns 499,532 shares of the technology company’s stock worth $32,273,000 after purchasing an additional 218,599 shares in the last quarter. Finally, Ranger Investment Management L.P. grew its holdings in Pegasystems by 29.9% in the fourth quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after purchasing an additional 143,986 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.