Pegasystems (NASDAQ:PEGA) Reaches New 52-Week High – Here’s Why

by · The Markets Daily

Shares of Pegasystems Inc. (NASDAQ:PEGA – Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $87.74 and last traded at $87.71, with a volume of 105160 shares. The stock had previously closed at $86.68.

Wall Street Analysts Forecast Growth

PEGA has been the topic of a number of recent analyst reports. DA Davidson upped their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JMP Securities raised Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Wednesday, July 31st. Wedbush upped their price target on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Get Our Latest Stock Report on Pegasystems

Pegasystems Trading Up 1.1 %

The company has a market cap of $7.52 billion, a price-to-earnings ratio of 64.32 and a beta of 1.06. The stock has a 50-day simple moving average of $73.18 and a 200-day simple moving average of $65.93.

Pegasystems (NASDAQ:PEGA – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. Pegasystems’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. As a group, research analysts expect that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 3,019 shares of Pegasystems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the transaction, the chief financial officer now owns 18,197 shares of the company’s stock, valued at approximately $1,229,207.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Kenneth Stillwell sold 3,019 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the completion of the sale, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at approximately $1,229,207.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the completion of the sale, the insider now directly owns 46,505 shares of the company’s stock, valued at $3,274,417.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,093 shares of company stock valued at $3,042,389 over the last three months. Company insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in shares of Pegasystems during the 1st quarter valued at $758,000. Swiss National Bank lifted its position in shares of Pegasystems by 0.5% in the first quarter. Swiss National Bank now owns 82,500 shares of the technology company’s stock worth $5,333,000 after buying an additional 400 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Pegasystems in the first quarter worth about $2,038,000. Inspire Investing LLC boosted its stake in shares of Pegasystems by 141.4% during the 1st quarter. Inspire Investing LLC now owns 18,990 shares of the technology company’s stock worth $1,228,000 after acquiring an additional 11,124 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Pegasystems by 64.0% during the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after acquiring an additional 339 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

(Get Free Report)

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.

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