Pegasystems Inc. (NASDAQ:PEGA) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $100.27.

Several analysts recently weighed in on PEGA shares. KeyCorp cut their price target on Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JMP Securities reissued a "market outperform" rating and set a $110.00 price target on shares of Pegasystems in a report on Thursday, February 13th. Barclays reaffirmed a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. Citigroup decreased their price target on Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Wedbush reissued an "outperform" rating and set a $125.00 price target on shares of Pegasystems in a report on Thursday, April 24th.

Pegasystems Stock Performance

PEGA stock opened at $98.44 on Tuesday. Pegasystems has a fifty-two week low of $55.71 and a fifty-two week high of $113.67. The business's 50 day moving average price is $78.79 and its two-hundred day moving average price is $87.83. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 97.47 and a beta of 1.14.

Pegasystems Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.015 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.06 dividend on an annualized basis and a yield of 0.06%. Pegasystems's dividend payout ratio (DPR) is presently 5.83%.

Insider Buying and Selling at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 500 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $93.50, for a total value of $46,750.00. Following the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $46,750. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $92.93, for a total value of $185,860.00. Following the completion of the sale, the chief financial officer now owns 19,495 shares in the company, valued at approximately $1,811,670.35. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,520 shares of company stock worth $9,752,250 over the last ninety days. Company insiders own 49.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its position in Pegasystems by 4.9% during the 4th quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company's stock valued at $435,000 after acquiring an additional 219 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Pegasystems by 48.0% during the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock valued at $74,000 after purchasing an additional 256 shares during the last quarter. Principal Financial Group Inc. raised its stake in Pegasystems by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock worth $372,000 after acquiring an additional 354 shares during the last quarter. Kestra Investment Management LLC raised its stake in Pegasystems by 32.8% in the 4th quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company's stock worth $1,513,000 after acquiring an additional 4,011 shares during the last quarter. Finally, Swiss National Bank raised its stake in Pegasystems by 1.2% in the 4th quarter. Swiss National Bank now owns 84,000 shares of the technology company's stock worth $7,829,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 46.89% of the company's stock.

Pegasystems Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.