Pegasystems Inc. (PEGA) Given Average Recommendation of “Buy” by Analysts

Shares of Pegasystems Inc. (NASDAQ:PEGA) have received a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $61.75.

Several research firms have issued reports on PEGA. BidaskClub raised Pegasystems from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. Zacks Investment Research raised Pegasystems from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, TheStreet lowered Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, November 22nd.

In related news, CFO Kenneth Stillwell sold 3,796 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $51.52, for a total value of $195,569.92. Following the sale, the chief financial officer now directly owns 3,372 shares in the company, valued at $173,725.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael R. Pyle sold 4,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $49.45, for a total value of $197,800.00. Following the completion of the sale, the vice president now owns 42,524 shares in the company, valued at $2,102,811.80. The disclosure for this sale can be found here. Insiders sold 19,035 shares of company stock worth $940,525 over the last quarter. 53.61% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Pegasystems by 8.1% during the second quarter. Vanguard Group Inc. now owns 3,007,693 shares of the technology company’s stock valued at $175,499,000 after purchasing an additional 225,809 shares during the period. BlackRock Inc. raised its position in Pegasystems by 1.3% during the fourth quarter. BlackRock Inc. now owns 2,384,036 shares of the technology company’s stock valued at $112,406,000 after purchasing an additional 29,884 shares during the period. Eagle Asset Management Inc. raised its position in Pegasystems by 8.0% during the fourth quarter. Eagle Asset Management Inc. now owns 1,174,179 shares of the technology company’s stock valued at $55,454,000 after purchasing an additional 87,175 shares during the period. Carillon Tower Advisers Inc. purchased a new stake in Pegasystems during the fourth quarter valued at approximately $48,796,000. Finally, Standard Life Aberdeen plc raised its position in Pegasystems by 31.6% during the fourth quarter. Standard Life Aberdeen plc now owns 993,088 shares of the technology company’s stock valued at $46,849,000 after purchasing an additional 238,314 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Shares of Pegasystems (PEGA) traded up $0.65 on Tuesday, hitting $47.15. The company had a trading volume of 374,100 shares, compared to its average volume of 369,264. Pegasystems has a one year low of $39.65 and a one year high of $64.85. The company has a market capitalization of $3,670.00, a price-to-earnings ratio of 79.92 and a beta of 1.26.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. Pegasystems’s dividend payout ratio is currently 20.34%.

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About Pegasystems

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

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