Pegasystems (NASDAQ:PEGA) Receives "Buy" Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Pegasystems (NASDAQ:PEGA - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $56.00 price target on the technology company's stock.

Several other research firms have also recently weighed in on PEGA. DA Davidson boosted their price objective on Pegasystems from $47.50 to $50.00 and gave the stock a "neutral" rating in a research report on Friday. KeyCorp lowered their price objective on shares of Pegasystems from $59.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Barclays upped their target price on shares of Pegasystems from $48.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 4th. JMP Securities raised their price target on shares of Pegasystems from $55.00 to $62.50 and gave the stock a "market outperform" rating in a research report on Tuesday, June 3rd. Finally, Loop Capital reissued a "buy" rating and set a $52.50 target price (up from $42.50) on shares of Pegasystems in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $53.32.

Pegasystems Stock Up 3.3%

Shares of PEGA traded up $1.66 during mid-day trading on Tuesday, hitting $51.61. 1,593,591 shares of the company's stock were exchanged, compared to its average volume of 1,542,673. Pegasystems has a twelve month low of $28.31 and a twelve month high of $56.84. The firm has a fifty day moving average of $92.66 and a two-hundred day moving average of $89.08. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 25.05 and a beta of 1.12.

Pegasystems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Pegasystems's previous quarterly dividend of $0.02. Pegasystems's dividend payout ratio (DPR) is 5.83%.

Insider Buying and Selling at Pegasystems

In related news, Chairman Alan Trefler sold 63,000 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $34.21, for a total transaction of $2,154,915.00. Following the transaction, the chairman now owns 34,369,228 shares in the company, valued at $1,175,599,443.74. This represents a 0.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Gerard Higgins sold 23,660 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $51.12, for a total transaction of $1,209,380.90. Following the completion of the transaction, the insider now directly owns 38,026 shares of the company's stock, valued at approximately $1,943,698.99. This represents a 38.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,530 shares of company stock worth $15,550,231 over the last three months. Company insiders own 50.10% of the company's stock.

Institutional Investors Weigh In On Pegasystems

Several hedge funds and other institutional investors have recently made changes to their positions in PEGA. Principal Securities Inc. lifted its stake in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock valued at $26,000 after acquiring an additional 167 shares during the period. EverSource Wealth Advisors LLC lifted its position in Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after purchasing an additional 149 shares during the period. CX Institutional acquired a new position in Pegasystems during the 1st quarter valued at about $36,000. SBI Securities Co. Ltd. boosted its stake in shares of Pegasystems by 139.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 549 shares of the technology company's stock valued at $38,000 after purchasing an additional 320 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Pegasystems by 50.5% during the 1st quarter. GAMMA Investing LLC now owns 599 shares of the technology company's stock worth $42,000 after buying an additional 201 shares during the period. 46.89% of the stock is owned by institutional investors and hedge funds.

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.