Pegasystems (NASDAQ:PEGA) Given New $82.00 Price Target at Citigroup

Pegasystems (NASDAQ:PEGA) had its price objective reduced by Citigroup from $87.00 to $82.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. JMP Securities restated a market perform rating on shares of Pegasystems in a research report on Wednesday, June 12th. Rosenblatt Securities restated a buy rating and set a $75.00 target price on shares of Pegasystems in a research report on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an outperform rating and issued a $77.00 target price on shares of Pegasystems in a research note on Tuesday, June 11th. Barclays boosted their price target on shares of Pegasystems from $66.00 to $69.00 and gave the stock an equal weight rating in a research note on Friday, April 26th. Finally, DA Davidson reaffirmed a neutral rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Pegasystems has a consensus rating of Moderate Buy and a consensus price target of $73.50.

Pegasystems Stock Down 2.7 %

Shares of NASDAQ:PEGA opened at $58.28 on Wednesday. The firm has a market cap of $4.96 billion, a P/E ratio of 71.07 and a beta of 1.05. Pegasystems has a 12 month low of $37.66 and a 12 month high of $69.26. The company’s 50-day moving average price is $59.54 and its two-hundred day moving average price is $57.14.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. The company had revenue of $330.15 million for the quarter, compared to the consensus estimate of $339.70 million. As a group, equities analysts predict that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Monday, July 1st. Pegasystems’s dividend payout ratio is currently 14.63%.

Insider Buying and Selling

In other Pegasystems news, insider Leon Trefler sold 752 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the sale, the insider now directly owns 39,940 shares in the company, valued at $2,564,148. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pegasystems news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $64.20, for a total value of $48,278.40. Following the transaction, the insider now owns 39,940 shares of the company’s stock, valued at $2,564,148. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sharon T. Rowlands acquired 8,600 shares of the stock in a transaction dated Tuesday, June 11th. The shares were bought at an average cost of $58.63 per share, with a total value of $504,218.00. Following the transaction, the director now directly owns 30,871 shares of the company’s stock, valued at $1,809,966.73. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 15,504 shares of company stock valued at $950,634. 50.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Pegasystems by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock worth $217,229,000 after acquiring an additional 310,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Pegasystems by 3.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after purchasing an additional 31,925 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Pegasystems by 272.4% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 19,178 shares of the technology company’s stock valued at $937,000 after purchasing an additional 14,028 shares in the last quarter. Bares Capital Management Inc. increased its stake in Pegasystems by 1.6% in the 4th quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock valued at $286,434,000 after buying an additional 90,993 shares during the last quarter. Finally, Norges Bank bought a new stake in Pegasystems during the 4th quarter worth about $22,784,000. 46.89% of the stock is currently owned by institutional investors.

About Pegasystems

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.