Pegasystems (NASDAQ:PEGA) PT Raised to $119.00 at Goldman Sachs Group

Pegasystems (NASDAQ:PEGA) had its price target lifted by Goldman Sachs Group from $105.00 to $119.00 in a report released on Monday morning, The Fly reports.

PEGA has been the topic of a number of other reports. Rosenblatt Securities reissued a buy rating on shares of Pegasystems in a report on Thursday, April 30th. ValuEngine upgraded shares of Pegasystems from a hold rating to a buy rating in a report on Tuesday, March 17th. KeyCorp increased their target price on shares of Pegasystems from $104.00 to $112.00 and gave the company an overweight rating in a report on Thursday, June 4th. JMP Securities increased their target price on shares of Pegasystems from $97.00 to $109.00 and gave the company an outperform rating in a report on Wednesday, June 3rd. Finally, Sidoti began coverage on shares of Pegasystems in a report on Tuesday, April 14th. They set a buy rating and a $116.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $113.63.

Shares of PEGA stock opened at $102.34 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.90 and a current ratio of 2.90. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of -93.04 and a beta of 1.28. Pegasystems has a 52 week low of $38.01 and a 52 week high of $105.36. The company has a 50-day simple moving average of $94.17 and a 200 day simple moving average of $84.76.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $265.59 million during the quarter, compared to analysts’ expectations of $255.98 million. Pegasystems had a negative net margin of 9.03% and a negative return on equity of 16.20%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) EPS. Sell-side analysts forecast that Pegasystems will post -1.01 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, June 30th. Pegasystems’s dividend payout ratio is currently -9.60%.

In other Pegasystems news, Director Richard H. Jones sold 2,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $77.51, for a total transaction of $155,020.00. Following the transaction, the director now directly owns 15,544 shares of the company’s stock, valued at $1,204,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas I. Kra sold 6,810 shares of Pegasystems stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $83.72, for a total transaction of $570,133.20. Following the transaction, the senior vice president now directly owns 52,160 shares in the company, valued at $4,366,835.20. The disclosure for this sale can be found here. Insiders sold 16,907 shares of company stock worth $1,439,861 over the last ninety days. 51.89% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PEGA. State Street Corp increased its stake in shares of Pegasystems by 0.7% in the fourth quarter. State Street Corp now owns 524,281 shares of the technology company’s stock worth $41,775,000 after buying an additional 3,742 shares during the period. Victory Capital Management Inc. increased its stake in shares of Pegasystems by 9.6% in the fourth quarter. Victory Capital Management Inc. now owns 7,699 shares of the technology company’s stock worth $613,000 after buying an additional 672 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Pegasystems by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 248,760 shares of the technology company’s stock worth $19,814,000 after buying an additional 5,655 shares during the period. Landscape Capital Management L.L.C. increased its stake in shares of Pegasystems by 244.4% in the fourth quarter. Landscape Capital Management L.L.C. now owns 18,494 shares of the technology company’s stock worth $1,473,000 after buying an additional 13,124 shares during the period. Finally, Piedmont Investment Advisors Inc. purchased a new position in shares of Pegasystems in the fourth quarter worth $224,000. 48.36% of the stock is currently owned by institutional investors.

Pegasystems Company Profile

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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Analyst Recommendations for Pegasystems (NASDAQ:PEGA)

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