Pegasystems (NASDAQ:PEGA) Earns Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Pegasystems (NASDAQ:PEGA) in a report issued on Friday, March 16th. Wedbush currently has a $61.85 price objective on the technology company’s stock, down from their prior price objective of $73.00.

A number of other equities analysts have also issued reports on the stock. BidaskClub lowered shares of Pegasystems from a sell rating to a strong sell rating in a research report on Friday, January 26th. TheStreet lowered shares of Pegasystems from a b- rating to a c rating in a report on Wednesday, November 22nd. Benchmark lifted their target price on shares of Pegasystems from $67.00 to $72.00 and gave the company a buy rating in a report on Monday, March 12th. UBS reaffirmed an overweight rating and set a $65.00 target price on shares of Pegasystems in a report on Tuesday, February 27th. Finally, Zacks Investment Research raised shares of Pegasystems from a sell rating to a hold rating in a report on Wednesday, January 10th. Eight equities research analysts have rated the stock with a buy rating, Pegasystems currently has an average rating of Buy and a consensus price target of $63.81.

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Shares of NASDAQ:PEGA traded down $1.10 during trading on Friday, reaching $61.15. The stock had a trading volume of 200,731 shares, compared to its average volume of 343,519. The stock has a market capitalization of $4,861.69, a P/E ratio of 277.95 and a beta of 1.05. Pegasystems has a one year low of $43.00 and a one year high of $64.85.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Monday, February 26th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Pegasystems had a net margin of 3.92% and a return on equity of 9.68%. The company had revenue of $239.54 million during the quarter, compared to analysts’ expectations of $208.48 million. During the same period last year, the business earned $0.20 EPS. Pegasystems’s revenue for the quarter was up 20.0% on a year-over-year basis. equities analysts expect that Pegasystems will post 0.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, March 29th. This represents a $0.12 annualized dividend and a yield of 0.20%. Pegasystems’s dividend payout ratio (DPR) is presently 54.55%.

In other news, VP Michael R. Pyle sold 4,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $49.45, for a total transaction of $197,800.00. Following the transaction, the vice president now owns 42,524 shares of the company’s stock, valued at approximately $2,102,811.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 3,796 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $51.52, for a total transaction of $195,569.92. Following the completion of the sale, the chief financial officer now owns 3,372 shares in the company, valued at $173,725.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,860 shares of company stock worth $1,434,764. 53.61% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Pegasystems by 1.3% in the 4th quarter. BlackRock Inc. now owns 2,384,036 shares of the technology company’s stock valued at $112,406,000 after buying an additional 29,884 shares during the period. Eagle Asset Management Inc. raised its holdings in Pegasystems by 8.0% in the 4th quarter. Eagle Asset Management Inc. now owns 1,174,179 shares of the technology company’s stock valued at $55,454,000 after buying an additional 87,175 shares during the period. Carillon Tower Advisers Inc. purchased a new stake in Pegasystems during the fourth quarter worth about $48,796,000. Standard Life Aberdeen plc increased its stake in Pegasystems by 31.6% during the fourth quarter. Standard Life Aberdeen plc now owns 993,088 shares of the technology company’s stock worth $46,849,000 after purchasing an additional 238,314 shares during the period. Finally, Ranger Investment Management L.P. increased its stake in Pegasystems by 26.9% during the fourth quarter. Ranger Investment Management L.P. now owns 965,692 shares of the technology company’s stock worth $45,532,000 after purchasing an additional 204,711 shares during the period. Hedge funds and other institutional investors own 47.73% of the company’s stock.

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About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients to build and extend their own applications.

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