A number of other brokerages have also issued reports on PEGA. UBS Group reiterated a buy rating and set a $25.00 price target on shares of Infineon Technologies in a research note on Tuesday, May 7th. TheStreet lowered shares of Wayside Technology Group from a b- rating to a c rating in a research note on Wednesday, May 22nd. Zacks Investment Research lowered shares of ExlService from a hold rating to a sell rating in a research note on Wednesday, July 10th. JMP Securities boosted their price target on shares of Pegasystems from $72.00 to $81.00 and gave the stock a market outperform rating in a research note on Wednesday, May 8th. Finally, Benchmark reiterated a buy rating and set a $80.00 price target (up from $72.00) on shares of Pegasystems in a research note on Wednesday, May 8th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $79.20.
Shares of Pegasystems stock traded up $0.84 on Tuesday, reaching $77.04. 18,601 shares of the stock were exchanged, compared to its average volume of 303,582. Pegasystems has a 1-year low of $43.21 and a 1-year high of $78.61. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $72.81.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.24). Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The firm had revenue of $212.50 million for the quarter, compared to analyst estimates of $237.63 million. During the same quarter last year, the firm earned $0.24 earnings per share. The company’s revenue was down 9.7% compared to the same quarter last year. Equities research analysts anticipate that Pegasystems will post -0.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Friday, June 28th.
In related news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $73.70, for a total transaction of $73,700.00. Following the sale, the chief financial officer now owns 6,369 shares of the company’s stock, valued at $469,395.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James P. Ohalloran sold 6,209 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $72.13, for a total transaction of $447,855.17. Following the sale, the director now directly owns 114,343 shares in the company, valued at approximately $8,247,560.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,251 shares of company stock worth $2,178,587. 52.37% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in shares of Pegasystems by 0.5% in the first quarter. California State Teachers Retirement System now owns 59,518 shares of the technology company’s stock valued at $3,869,000 after purchasing an additional 269 shares in the last quarter. Quantamental Technologies LLC lifted its holdings in shares of Pegasystems by 542.2% in the first quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock valued at $27,000 after purchasing an additional 347 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Pegasystems by 25.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,140 shares of the technology company’s stock valued at $237,000 after purchasing an additional 1,048 shares in the last quarter. Barclays PLC lifted its holdings in shares of Pegasystems by 10.9% in the fourth quarter. Barclays PLC now owns 12,367 shares of the technology company’s stock valued at $592,000 after purchasing an additional 1,217 shares in the last quarter. Finally, Carroll Financial Associates Inc. purchased a new stake in shares of Pegasystems in the second quarter valued at about $108,000. 46.28% of the stock is currently owned by hedge funds and other institutional investors.
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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