Pegasystems (NASDAQ:PEGA) Price Target Increased to $87.00 by Analysts at Citigroup

Pegasystems (NASDAQ:PEGAFree Report) had its target price upped by Citigroup from $86.00 to $87.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other analysts have also commented on PEGA. Royal Bank of Canada lifted their target price on Pegasystems from $65.00 to $77.00 and gave the stock an outperform rating in a report on Friday, February 16th. TheStreet raised Pegasystems from a d+ rating to a c rating in a research report on Thursday, February 15th. DA Davidson reaffirmed a neutral rating and set a $60.00 price target on shares of Pegasystems in a report on Monday, March 4th. StockNews.com raised shares of Pegasystems from a buy rating to a strong-buy rating in a report on Tuesday, February 13th. Finally, The Goldman Sachs Group raised their target price on shares of Pegasystems from $50.00 to $70.00 and gave the stock a neutral rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $65.44.

View Our Latest Stock Analysis on PEGA

Pegasystems Stock Performance

Shares of Pegasystems stock opened at $65.26 on Friday. Pegasystems has a 1 year low of $37.66 and a 1 year high of $69.26. The firm’s 50-day moving average is $57.19 and its 200 day moving average is $50.13. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 91.92 and a beta of 1.06. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.78 and a quick ratio of 1.78.

Pegasystems (NASDAQ:PEGAGet Free Report) last issued its earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.64. The firm had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. Sell-side analysts anticipate that Pegasystems will post 1.49 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a $0.03 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. Pegasystems’s dividend payout ratio (DPR) is 16.90%.

Insider Activity at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $66.43, for a total value of $132,860.00. Following the completion of the sale, the chief financial officer now owns 16,000 shares in the company, valued at $1,062,880. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $66.43, for a total value of $132,860.00. Following the completion of the sale, the chief financial officer now directly owns 16,000 shares of the company’s stock, valued at $1,062,880. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 395 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total transaction of $25,576.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,040 shares of company stock worth $2,605,991. Corporate insiders own 50.20% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

Several large investors have recently bought and sold shares of PEGA. Raymond James Financial Services Advisors Inc. purchased a new stake in Pegasystems during the first quarter valued at approximately $1,054,000. Bank of Montreal Can increased its stake in Pegasystems by 79.9% in the 1st quarter. Bank of Montreal Can now owns 8,964 shares of the technology company’s stock worth $728,000 after buying an additional 3,982 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Pegasystems in the 1st quarter worth about $1,059,000. Acadian Asset Management LLC increased its position in shares of Pegasystems by 55.5% during the first quarter. Acadian Asset Management LLC now owns 7,429 shares of the technology company’s stock worth $598,000 after acquiring an additional 2,653 shares during the period. Finally, MetLife Investment Management LLC bought a new stake in shares of Pegasystems during the first quarter valued at approximately $205,000. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

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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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