Recent Analysts’ Ratings Updates for Pegasystems (PEGA)

Pegasystems (NASDAQ: PEGA) has recently received a number of price target changes and ratings updates:

• 11/4/2024 – Pegasystems was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/25/2024 – Pegasystems was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 10/25/2024 – Pegasystems had its price target raised by analysts at Wedbush from $90.00 to $100.00. They now have an “outperform” rating on the stock.
• 10/25/2024 – Pegasystems had its price target raised by analysts at Barclays PLC from $74.00 to $82.00. They now have an “equal weight” rating on the stock.
• 10/25/2024 – Pegasystems had its price target raised by analysts at Rosenblatt Securities from $90.00 to $95.00. They now have a “buy” rating on the stock.
• 10/14/2024 – Pegasystems was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 10/8/2024 – Pegasystems had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $90.00 price target on the stock.
• 10/4/2024 – Pegasystems was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 9/25/2024 – Pegasystems had its price target raised by analysts at Citigroup Inc. from $87.00 to $92.00. They now have a “buy” rating on the stock.

Pegasystems Stock Up 0.6 %

PEGA traded up $0.55 during trading hours on Friday, reaching $86.68. 314,511 shares of the company’s stock traded hands, compared to its average volume of 547,693. The firm has a 50-day moving average price of $73.18 and a 200 day moving average price of $65.84. The firm has a market capitalization of $7.43 billion, a PE ratio of 63.27 and a beta of 1.06. Pegasystems Inc. has a 52-week low of $44.00 and a 52-week high of $87.19.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. Equities analysts predict that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. Pegasystems’s dividend payout ratio is currently 8.76%.

Insider Buying and Selling

In related news, Director Richard H. Jones sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total value of $698,800.00. Following the completion of the sale, the director now directly owns 357,058 shares of the company’s stock, valued at $24,951,213.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $70,410.00. Following the completion of the sale, the insider now directly owns 46,505 shares of the company’s stock, valued at $3,274,417.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard H. Jones sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $69.88, for a total transaction of $698,800.00. Following the completion of the sale, the director now directly owns 357,058 shares of the company’s stock, valued at approximately $24,951,213.04. 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 41,093 shares of company stock valued at $3,042,389 over the last three months. 50.10% of the stock is owned by company insiders.

Institutional Trading of Pegasystems

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after acquiring an additional 756 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of Pegasystems by 64.0% during the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after acquiring an additional 339 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Pegasystems during the third quarter valued at about $57,000. Finally, Capital Performance Advisors LLP acquired a new position in Pegasystems in the 3rd quarter worth approximately $67,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.