Pegasystems (NASDAQ:PEGA) Downgraded to “Buy” at StockNews.com

by · The Cerbat Gem

StockNews.com cut shares of Pegasystems (NASDAQ:PEGA – Free Report) from a strong-buy rating to a buy rating in a research note published on Friday.

A number of other research firms have also recently commented on PEGA. The Goldman Sachs Group increased their target price on shares of Pegasystems from $70.00 to $78.00 and gave the company a neutral rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price objective on Pegasystems from $77.00 to $90.00 and gave the company an outperform rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on Pegasystems from $78.00 to $83.00 and gave the stock an overweight rating in a research note on Wednesday, July 31st. William Blair upgraded Pegasystems from a market perform rating to an outperform rating in a research note on Tuesday, July 30th. Finally, Barclays boosted their price target on Pegasystems from $69.00 to $74.00 and gave the stock an equal weight rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $83.60.

Read Our Latest Research Report on PEGA

Pegasystems Stock Performance

Pegasystems stock opened at $72.08 on Friday. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $74.40. The company has a market capitalization of $6.16 billion, a PE ratio of 87.90 and a beta of 1.07. The company has a 50 day moving average price of $68.47 and a 200-day moving average price of $63.22.

Pegasystems (NASDAQ:PEGA – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.22 by $0.30. The business had revenue of $351.20 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.41) EPS. On average, analysts forecast that Pegasystems will post 1.54 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. Pegasystems’s dividend payout ratio is currently 14.63%.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the sale, the chief financial officer now owns 18,197 shares of the company’s stock, valued at $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kenneth Stillwell sold 3,019 shares of Pegasystems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total value of $203,933.45. Following the completion of the transaction, the chief financial officer now owns 18,197 shares in the company, valued at approximately $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now owns 752 shares in the company, valued at approximately $54,211.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,955 shares of company stock valued at $3,206,247 over the last 90 days. 50.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pegasystems

Large investors have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in shares of Pegasystems during the 4th quarter worth about $167,000. Allianz Asset Management GmbH raised its holdings in Pegasystems by 14.8% during the fourth quarter. Allianz Asset Management GmbH now owns 27,950 shares of the technology company’s stock worth $1,366,000 after purchasing an additional 3,593 shares in the last quarter. Bank of Nova Scotia purchased a new stake in shares of Pegasystems during the 4th quarter worth approximately $1,076,000. Pinebridge Investments L.P. purchased a new stake in shares of Pegasystems during the 4th quarter worth approximately $1,297,000. Finally, Vinva Investment Management Ltd acquired a new position in shares of Pegasystems in the 4th quarter valued at $136,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

About Pegasystems

(Get Free Report)

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.

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