Pegasystems Inc. (NASDAQ:PEGA) Given Average Rating of "Moderate Buy" by Brokerages

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) has earned an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $54.05.

Several equities research analysts have issued reports on the company. Wedbush reaffirmed an "outperform" rating and set a $62.50 price target on shares of Pegasystems in a research note on Tuesday, June 3rd. Rosenblatt Securities reiterated a "buy" rating and set a $56.00 target price on shares of Pegasystems in a report on Tuesday, June 24th. Citigroup reissued a "buy" rating and issued a $66.00 price target on shares of Pegasystems in a research report on Wednesday, June 25th. Loop Capital upped their price objective on Pegasystems from $52.50 to $60.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $60.00 price target on shares of Pegasystems in a report on Tuesday, June 3rd.

Pegasystems Stock Performance

Shares of NASDAQ PEGA opened at $53.93 on Wednesday. The stock has a market cap of $9.23 billion, a PE ratio of 52.36 and a beta of 1.13. Pegasystems has a fifty-two week low of $28.31 and a fifty-two week high of $56.84. The stock has a fifty day moving average of $49.87 and a 200-day moving average of $45.16.

Pegasystems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.03 per share. This is a positive change from Pegasystems's previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. Pegasystems's dividend payout ratio (DPR) is presently 11.65%.

Insider Buying and Selling at Pegasystems

In related news, CFO Kenneth Stillwell sold 35,426 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $44.68, for a total value of $1,582,833.68. Following the completion of the transaction, the chief financial officer owned 42,990 shares of the company's stock, valued at approximately $1,920,793.20. This trade represents a 45.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alan Trefler sold 63,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $48.25, for a total transaction of $3,039,750.00. Following the completion of the sale, the chairman directly owned 34,243,120 shares of the company's stock, valued at approximately $1,652,230,540. The trade was a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,530 shares of company stock worth $15,621,291 in the last 90 days. 50.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pegasystems

Large investors have recently bought and sold shares of the business. Swiss National Bank grew its holdings in Pegasystems by 1.2% in the fourth quarter. Swiss National Bank now owns 84,000 shares of the technology company's stock worth $7,829,000 after purchasing an additional 1,000 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Pegasystems by 50.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,889 shares of the technology company's stock worth $204,000 after acquiring an additional 974 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Pegasystems during the 1st quarter worth about $761,000. Cetera Investment Advisers raised its holdings in Pegasystems by 20.6% in the 4th quarter. Cetera Investment Advisers now owns 6,756 shares of the technology company's stock valued at $630,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Pegasystems by 42.7% in the 4th quarter. Captrust Financial Advisors now owns 5,333 shares of the technology company's stock valued at $497,000 after acquiring an additional 1,596 shares during the last quarter. 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.

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