Shares of Pegasystems Inc. (NASDAQ:PEGA - Get Rating) have earned an average recommendation of "Hold" from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $47.00.
PEGA has been the topic of several recent research reports. William Blair initiated coverage on Pegasystems in a research report on Thursday, March 9th. They set a "market perform" rating on the stock. Loop Capital lifted their price objective on Pegasystems from $35.00 to $45.00 and gave the stock a "hold" rating in a research report on Thursday, February 16th. Rosenblatt Securities initiated coverage on Pegasystems in a research report on Monday, May 8th. They set a "buy" rating and a $56.00 price target on the stock. The Goldman Sachs Group lifted their price target on Pegasystems from $31.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, February 17th. Finally, StockNews.com assumed coverage on Pegasystems in a research report on Thursday, May 18th. They set a "hold" rating on the stock.
Insider Buying and Selling at Pegasystems
In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,558 shares of the business's stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $47.56, for a total transaction of $74,098.48. Following the completion of the sale, the insider now owns 52,718 shares of the company's stock, valued at $2,507,268.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 2,558 shares of company stock valued at $120,728. Company insiders own 50.50% of the company's stock.
Hedge Funds Weigh In On Pegasystems
A number of hedge funds have recently made changes to their positions in PEGA. Signaturefd LLC lifted its position in shares of Pegasystems by 93.7% in the fourth quarter. Signaturefd LLC now owns 866 shares of the technology company's stock worth $30,000 after buying an additional 419 shares in the last quarter. Quarry LP purchased a new stake in Pegasystems during the first quarter valued at approximately $45,000. Ellevest Inc. raised its position in Pegasystems by 39.1% during the fourth quarter. Ellevest Inc. now owns 953 shares of the technology company's stock valued at $33,000 after purchasing an additional 268 shares during the period. Captrust Financial Advisors raised its position in Pegasystems by 109.8% during the first quarter. Captrust Financial Advisors now owns 1,326 shares of the technology company's stock valued at $107,000 after purchasing an additional 694 shares during the period. Finally, Castleview Partners LLC purchased a new stake in shares of Pegasystems in the first quarter worth approximately $70,000. Institutional investors own 48.22% of the company's stock.
Pegasystems Stock Performance
Shares of NASDAQ PEGA opened at $44.99 on Friday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -10.04 and a beta of 1.05. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 3.64. Pegasystems has a 1-year low of $29.05 and a 1-year high of $55.54. The stock's 50-day moving average is $45.43 and its 200 day moving average is $41.12.
Pegasystems Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 3rd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, March 31st. Pegasystems's dividend payout ratio is presently -2.68%.
Pegasystems Company Profile
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Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. Its product Pega Infinity helps connect enterprises to their customers in real-time across channels, streamline business operations, and adapt to meet changing requirements.
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