Barclays Raises Pegasystems (NASDAQ:PEGA) Price Target to $69.00

Pegasystems (NASDAQ:PEGA) had its target price raised by Barclays from $66.00 to $69.00 in a report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other research analysts also recently issued reports on PEGA. Royal Bank of Canada lifted their price target on shares of Pegasystems from $65.00 to $77.00 and gave the stock an outperform rating in a research note on Friday, February 16th. TheStreet raised shares of Pegasystems from a d+ rating to a c rating in a research report on Thursday, February 15th. DA Davidson reissued a neutral rating and issued a $60.00 target price on shares of Pegasystems in a report on Monday, March 4th. Wedbush reaffirmed an outperform rating and set a $90.00 price target on shares of Pegasystems in a report on Wednesday, April 10th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $75.00 price objective on shares of Pegasystems in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pegasystems presently has a consensus rating of Moderate Buy and an average price target of $72.33.

Pegasystems Stock Up 4.6 %

Shares of PEGA stock opened at $61.80 on Friday. The firm has a 50 day moving average of $62.83 and a two-hundred day moving average of $53.27. The stock has a market capitalization of $5.25 billion, a PE ratio of 75.37 and a beta of 1.06. Pegasystems has a 52 week low of $37.66 and a 52 week high of $69.26.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.64. The company had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. Analysts expect that Pegasystems will post 1.49 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Insider Buying and Selling

In other Pegasystems news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the sale, the insider now owns 39,940 shares in the company, valued at $2,564,148. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Leon Trefler sold 752 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $64.20, for a total transaction of $48,278.40. Following the completion of the sale, the insider now owns 39,940 shares in the company, valued at $2,564,148. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $63.70, for a total value of $127,400.00. Following the completion of the transaction, the chief financial officer now owns 24,884 shares in the company, valued at approximately $1,585,110.80. The disclosure for this sale can be found here. Insiders have sold 43,792 shares of company stock worth $2,781,669 in the last quarter. 50.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its position in Pegasystems by 80.1% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after buying an additional 226 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after acquiring an additional 364 shares during the period. Headlands Technologies LLC purchased a new position in Pegasystems during the fourth quarter worth about $26,000. Harvest Fund Management Co. Ltd acquired a new stake in Pegasystems in the fourth quarter valued at about $44,000. Finally, CWM LLC raised its stake in shares of Pegasystems by 80.1% during the 3rd quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after buying an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

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.