Pegasystems Inc. (NASDAQ:PEGA) Receives Consensus Rating of “Buy” from Brokerages

Pegasystems Inc. (NASDAQ:PEGA) has earned an average rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $82.25.

Several equities research analysts have recently issued reports on PEGA shares. BidaskClub cut Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. TheStreet upgraded Pegasystems from a “c” rating to a “b-” rating in a research report on Friday, March 22nd. Wedbush reiterated an “outperform” rating and issued a $66.86 price target on shares of Pegasystems in a research report on Wednesday, April 10th. Zacks Investment Research lowered Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, UBS Group lifted their price target on Pegasystems to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th.

In other Pegasystems news, CAO Efstathios A. Kouninis sold 853 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $70.25, for a total transaction of $59,923.25. Following the completion of the transaction, the chief accounting officer now owns 656 shares in the company, valued at $46,084. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $65.96, for a total value of $65,960.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,427 shares of company stock valued at $1,891,636. 52.37% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in PEGA. SQN Investors LP boosted its position in shares of Pegasystems by 27.8% during the fourth quarter. SQN Investors LP now owns 2,117,903 shares of the technology company’s stock valued at $101,299,000 after buying an additional 460,938 shares during the period. Norges Bank purchased a new position in shares of Pegasystems during the fourth quarter valued at approximately $20,310,000. Lazard Asset Management LLC purchased a new position in shares of Pegasystems during the first quarter valued at approximately $15,210,000. Totem Point Management LLC purchased a new position in shares of Pegasystems during the fourth quarter valued at approximately $7,084,000. Finally, First Trust Advisors LP boosted its position in shares of Pegasystems by 1,661.6% during the fourth quarter. First Trust Advisors LP now owns 147,781 shares of the technology company’s stock valued at $7,068,000 after buying an additional 139,392 shares during the period. Institutional investors and hedge funds own 46.28% of the company’s stock.

Shares of PEGA stock opened at $71.21 on Friday. Pegasystems has a 12-month low of $43.21 and a 12-month high of $76.49. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $71.59.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.24). Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The firm had revenue of $212.50 million during the quarter, compared to the consensus estimate of $237.63 million. During the same period last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. As a group, analysts predict that Pegasystems will post -0.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.12 annualized dividend and a yield of 0.17%.

About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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