Pegasystems (NASDAQ:PEGA) Price Target Raised to $103.00

Pegasystems (NASDAQ:PEGA) had its price objective increased by Barclays from $82.00 to $103.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

PEGA has been the topic of a number of other reports. Rosenblatt Securities lifted their price target on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada raised their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Wedbush boosted 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. Finally, KeyCorp reaffirmed an “overweight” rating and set a $118.00 price objective on shares of Pegasystems in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pegasystems has an average rating of “Moderate Buy” and an average target price of $95.82.

Pegasystems Trading Up 1.3 %

Shares of PEGA stock opened at $108.29 on Friday. Pegasystems has a 12-month low of $47.82 and a 12-month high of $113.67. The company has a market cap of $9.29 billion, a PE ratio of 79.04 and a beta of 1.09. The business’s fifty day simple moving average is $97.77 and its 200-day simple moving average is $81.28.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.11%. The ex-dividend date was Thursday, January 2nd. Pegasystems’s dividend payout ratio (DPR) is presently 8.76%.

Insiders Place Their Bets

In related news, insider Leon Trefler sold 752 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total value of $70,560.16. Following the sale, the insider now directly owns 37,973 shares of the company’s stock, valued at $3,563,006.59. This represents a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Efstathios A. Kouninis sold 528 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,531 shares of company stock worth $1,178,650 over the last quarter. 50.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pegasystems

Hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. lifted its position in shares of Pegasystems by 150.5% in the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after buying an additional 167 shares during the last quarter. True Wealth Design LLC acquired a new position in Pegasystems in the third quarter valued at approximately $27,000. Venturi Wealth Management LLC grew its holdings in shares of Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after purchasing an additional 216 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Pegasystems during the 3rd quarter worth approximately $57,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Pegasystems during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

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.