Pegasystems (NASDAQ:PEGA) Given New $100.00 Price Target at Wedbush

Pegasystems (NASDAQ:PEGA) had its price objective raised by Wedbush from $90.00 to $100.00 in a report released on Friday, Benzinga reports. Wedbush currently has an outperform rating on the technology company’s stock. Wedbush also issued estimates for Pegasystems’ Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $1.66 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.28 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $2.05 EPS.

A number of other analysts also recently issued reports on PEGA. Royal Bank of Canada boosted their price objective on shares of Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 26th. DA Davidson boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Wednesday, July 31st. Citigroup upped their price objective on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.90.

Pegasystems Stock Up 0.1 %

Shares of NASDAQ:PEGA traded up $0.07 during midday trading on Friday, reaching $80.03. 1,463,714 shares of the company were exchanged, compared to its average volume of 549,402. Pegasystems has a fifty-two week low of $38.94 and a fifty-two week high of $82.22. The stock has a fifty day simple moving average of $70.20 and a two-hundred day simple moving average of $64.12. The firm has a market cap of $6.84 billion, a PE ratio of 55.19 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. As a group, analysts forecast that Pegasystems will post 1.54 earnings per share for the current year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s dividend payout ratio is currently 8.28%.

Insider Buying and Selling

In related news, CFO Kenneth Stillwell sold 3,019 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total transaction of $203,933.45. Following the transaction, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at $1,229,207.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total transaction of $203,933.45. Following the transaction, the chief financial officer now owns 18,197 shares in the company, valued at approximately $1,229,207.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Leon Trefler sold 752 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,211.68. Following the completion of the sale, the insider now owns 38,412 shares of the company’s stock, valued at approximately $2,769,121.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,955 shares of company stock valued at $3,136,247 over the last ninety days. 50.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

A number of large investors have recently modified their holdings of the company. Optimist Retirement Group LLC raised its stake in shares of Pegasystems by 5.0% during the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock worth $208,000 after acquiring an additional 165 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Pegasystems by 5.4% during the third quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock worth $300,000 after acquiring an additional 211 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after acquiring an additional 260 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Pegasystems by 2.3% during the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock worth $711,000 after acquiring an additional 262 shares in the last quarter. Finally, Duality Advisers LP raised its stake in shares of Pegasystems by 2.7% during the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after acquiring an additional 363 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

About Pegasystems

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.