Pegasystems (NASDAQ:PEGA) Stock Rating Upgraded by DA Davidson

DA Davidson upgraded shares of Pegasystems (NASDAQ:PEGA - Free Report) to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price target on shares of Pegasystems in a research note on Tuesday, June 3rd. Citigroup boosted their price target on Pegasystems from $116.00 to $131.00 and gave the stock a "buy" rating in a research report on Friday. Barclays upped their price target on Pegasystems from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 4th. KeyCorp cut their price objective on Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Loop Capital restated a "buy" rating and issued a $105.00 target price (up from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Pegasystems currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.18.

Pegasystems Stock Performance

Shares of Pegasystems stock traded down $0.71 during trading on Monday, hitting $101.33. 625,992 shares of the stock traded hands, compared to its average volume of 764,350. The stock has a market cap of $8.67 billion, a P/E ratio of 100.33 and a beta of 1.12. The company has a fifty day moving average price of $86.88 and a two-hundred day moving average price of $89.09. Pegasystems has a twelve month low of $55.90 and a twelve month high of $113.67.

Pegasystems Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.06%. Pegasystems's dividend payout ratio (DPR) is presently 5.83%.

Insider Activity

In other news, Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $68.41, for a total transaction of $2,154,915.00. Following the completion of the transaction, the chairman now owns 17,184,614 shares of the company's stock, valued at approximately $1,175,599,443.74. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Efstathios A. Kouninis sold 500 shares of Pegasystems stock in a transaction dated 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 trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,185 shares of company stock valued at $8,126,445. 49.70% of the stock is owned by company insiders.

Institutional Trading of Pegasystems

Several institutional investors have recently modified their holdings of the company. Choreo LLC bought a new position in Pegasystems in the fourth quarter worth $229,000. Wilmington Savings Fund Society FSB increased its holdings in Pegasystems by 16,181.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,396 shares of the technology company's stock valued at $410,000 after buying an additional 4,369 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Pegasystems by 82.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,058 shares of the technology company's stock valued at $16,556,000 after buying an additional 80,495 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after acquiring an additional 167 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Pegasystems by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 3,993 shares of the technology company's stock valued at $372,000 after acquiring an additional 354 shares in the last quarter. Institutional investors and hedge funds 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.