Pegasystems (NASDAQ:PEGA) PT Raised to $69.00 at Barclays

Pegasystems (NASDAQ:PEGA - Free Report) had its price objective lifted by Barclays from $66.00 to $69.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the technology company's stock.

Several other equities analysts have also issued reports on PEGA. Rosenblatt Securities reissued a buy rating and set a $75.00 price objective on shares of Pegasystems in a report on Tuesday. TheStreet raised shares of Pegasystems from a d+ rating to a c rating in a report on Thursday, February 15th. The Goldman Sachs Group lifted their price objective on shares of Pegasystems from $50.00 to $70.00 and gave the company a neutral rating in a report on Friday, February 16th. Wedbush reissued an outperform rating and set a $90.00 price objective on shares of Pegasystems in a report on Wednesday, April 10th. Finally, Citigroup lifted their price objective on shares of Pegasystems from $86.00 to $87.00 and gave the company a buy rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $72.33.

Pegasystems Trading Up 4.6 %

Shares of NASDAQ:PEGA traded up $2.72 during trading on Friday, reaching $61.80. 940,337 shares of the company were exchanged, compared to its average volume of 495,019. The firm has a market capitalization of $5.19 billion, a PE ratio of 75.37 and a beta of 1.06. The business's fifty day simple moving average is $62.83 and its 200-day simple moving average is $53.12. Pegasystems has a 12-month low of $37.66 and a 12-month high of $69.26. 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:PEGA - Get Free Report) last issued its earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.64. The business had revenue of $474.23 million for the quarter, compared to analyst estimates of $428.76 million. Pegasystems had a net margin of 5.32% and a return on equity of 53.49%. On average, research analysts anticipate that Pegasystems will post 1.49 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.19%. The ex-dividend date was Thursday, March 28th. Pegasystems's dividend payout ratio is currently 14.63%.

Insiders Place Their Bets

In other news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction on 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 directly owns 39,940 shares in the company, valued at $2,564,148. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the sale, the chief financial officer now directly owns 24,535 shares in the company, valued at $1,549,875.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction on Monday, April 1st. The stock was sold at an average price of $64.20, for a total transaction of $48,278.40. Following the sale, the insider now owns 39,940 shares of the company's stock, valued at $2,564,148. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,792 shares of company stock valued at $2,781,669. 50.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Pegasystems by 6.6% in the third quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company's stock worth $217,229,000 after acquiring an additional 310,242 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pegasystems by 3.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company's stock worth $46,227,000 after purchasing an additional 31,925 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pegasystems by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 318,002 shares of the technology company's stock worth $13,804,000 after purchasing an additional 10,653 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Pegasystems during the third quarter worth about $2,104,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Pegasystems during the third quarter worth about $114,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.