Pegasystems (NASDAQ:PEGA) had its price objective decreased by Wedbush from $80.00 to $78.00 in a research report sent to investors on Thursday morning. Wedbush currently has an outperform rating on the technology company’s stock.
A number of other research firms have also recently weighed in on PEGA. BidaskClub upgraded Pegasystems from a hold rating to a buy rating in a report on Wednesday, September 12th. ValuEngine upgraded Pegasystems from a hold rating to a buy rating in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $70.20.
Shares of PEGA traded down $1.92 during midday trading on Thursday, reaching $53.53. The company had a trading volume of 328,650 shares, compared to its average volume of 357,221. Pegasystems has a 1-year low of $45.40 and a 1-year high of $67.95.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, November 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Pegasystems had a negative return on equity of 0.90% and a negative net margin of 1.08%. The company had revenue of $203.26 million during the quarter, compared to analyst estimates of $199.57 million. During the same period last year, the business earned $0.09 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that Pegasystems will post 0.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, September 28th. Pegasystems’s dividend payout ratio is presently 54.55%.
In other news, CFO Kenneth Stillwell sold 1,500 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $53.40, for a total transaction of $80,100.00. Following the completion of the transaction, the chief financial officer now directly owns 11,866 shares in the company, valued at approximately $633,644.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard H. Jones sold 10,000 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $62.87, for a total value of $628,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,369 shares of company stock valued at $1,766,919. Company insiders own 52.85% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in Pegasystems during the 2nd quarter valued at about $11,618,000. Renaissance Technologies LLC boosted its holdings in Pegasystems by 229.8% during the 2nd quarter. Renaissance Technologies LLC now owns 242,824 shares of the technology company’s stock valued at $13,307,000 after acquiring an additional 169,200 shares during the period. Millennium Management LLC boosted its holdings in Pegasystems by 20.3% during the 2nd quarter. Millennium Management LLC now owns 612,858 shares of the technology company’s stock valued at $33,585,000 after acquiring an additional 103,240 shares during the period. Tygh Capital Management Inc. purchased a new position in Pegasystems during the 3rd quarter valued at about $6,232,000. Finally, Paloma Partners Management Co boosted its holdings in Pegasystems by 1,431.1% during the 2nd quarter. Paloma Partners Management Co now owns 93,399 shares of the technology company’s stock valued at $5,118,000 after acquiring an additional 87,299 shares during the period. Institutional investors and hedge funds own 44.83% of the company’s stock.
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. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.
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