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

Shares of Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $106.18.

PEGA has been the subject of a number of research analyst reports. KeyCorp dropped their price target on Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Rosenblatt Securities lifted their price objective on Pegasystems from $101.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. DA Davidson upgraded Pegasystems to a "hold" rating in a report on Monday, June 9th. Citigroup lifted their price target on Pegasystems from $116.00 to $131.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Loop Capital reaffirmed a "buy" rating and issued a $105.00 price objective (up from $85.00) on shares of Pegasystems in a research note on Thursday, April 24th.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $98.84 on Friday. The stock has a fifty day moving average price of $89.79 and a 200 day moving average price of $89.32. The company has a market cap of $8.46 billion, a PE ratio of 97.86 and a beta of 1.12. Pegasystems has a 1-year low of $55.90 and a 1-year high of $113.67.

Pegasystems Cuts Dividend

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

Insiders Place Their Bets

In other news, Chairman Alan Trefler sold 31,500 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $68.41, for a total value of $2,154,915.00. Following the completion of the sale, the chairman now directly owns 17,184,614 shares in the company, valued at approximately $1,175,599,443.74. The trade was a 0.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $69.75, for a total value of $139,500.00. Following the completion of the sale, the chief financial officer now owns 21,245 shares of the company's stock, valued at $1,481,838.75. This trade represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,015 shares of company stock worth $9,191,326 in the last three months. 49.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. 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 worth $435,000 after acquiring an additional 219 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Pegasystems by 48.0% during the fourth 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. lifted its holdings in shares of Pegasystems by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock valued at $372,000 after purchasing an additional 354 shares during the last quarter. Kestra Investment Management LLC raised its position in Pegasystems by 32.8% during the fourth quarter. Kestra Investment Management LLC now owns 16,230 shares of the technology company's stock valued at $1,513,000 after buying an additional 4,011 shares during the period. Finally, Swiss National Bank raised its position in Pegasystems by 1.2% during the fourth quarter. Swiss National Bank now owns 84,000 shares of the technology company's stock valued at $7,829,000 after buying an additional 1,000 shares during the period. 46.89% of the stock is currently owned by institutional investors.

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.