Pegasystems (NASDAQ:PEGA) Price Target Raised to $112.00 at Rosenblatt Securities

Pegasystems (NASDAQ:PEGA - Free Report) had its price objective upped by Rosenblatt Securities from $101.00 to $112.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a buy rating on the technology company's stock.

Several other analysts have also issued reports on the stock. Citigroup reduced their price target on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JMP Securities lifted their price target on Pegasystems from $110.00 to $125.00 and gave the company a "market outperform" rating in a research note on Tuesday. Barclays reissued a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. Wall Street Zen raised Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Wedbush reissued an "outperform" rating and set a $125.00 target price on shares of Pegasystems in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.00.

Pegasystems Price Performance

NASDAQ:PEGA traded up $0.43 during trading hours on Wednesday, reaching $101.84. 800,665 shares of the company were exchanged, compared to its average volume of 761,338. The business has a 50 day moving average of $85.00 and a 200 day moving average of $88.78. Pegasystems has a 1-year low of $55.90 and a 1-year high of $113.67. The company has a market capitalization of $8.72 billion, a P/E ratio of 100.83 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 paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.06%. The ex-dividend date was Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is presently 5.83%.

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 17,713 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $89.36, for a total value of $1,582,833.68. Following the transaction, the chief financial officer now directly owns 21,495 shares in the company, valued at $1,920,793.20. The trade was a 45.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly owns 17,184,614 shares of the company's stock, valued at $1,175,599,443.74. This represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,087 shares of company stock worth $10,299,146 in the last 90 days. Insiders own 49.70% of the company's stock.

Hedge Funds Weigh In On Pegasystems

Several institutional investors have recently bought and sold shares of PEGA. Invesco Ltd. grew its stake in shares of Pegasystems by 189.0% during the 4th quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock worth $220,347,000 after acquiring an additional 1,546,281 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Pegasystems during the first quarter valued at about $151,149,000. TPG GP A LLC boosted its position in Pegasystems by 4.3% during the first quarter. TPG GP A LLC now owns 2,022,733 shares of the technology company's stock worth $140,620,000 after purchasing an additional 82,845 shares during the period. AQR Capital Management LLC increased its stake in shares of Pegasystems by 60.1% in the first quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company's stock worth $81,337,000 after purchasing an additional 450,951 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Pegasystems in the first quarter valued at approximately $68,229,000. Hedge funds and other 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.