UBS Group Raises Pegasystems (PEGA) Price Target to $78.00

Pegasystems (NASDAQ:PEGA) had its target price upped by UBS Group to $78.00 in a research report report published on Tuesday, The Fly reports. They currently have an overweight rating on the technology company’s stock.

PEGA has been the subject of a number of other research reports. Zacks Investment Research cut Pegasystems from a buy rating to a hold rating in a research note on Thursday, May 2nd. BidaskClub cut Pegasystems from a strong-buy rating to a buy rating in a research note on Wednesday, May 1st. Wedbush reiterated an outperform rating and issued a $66.86 price objective on shares of Pegasystems in a research note on Wednesday, April 10th. Finally, TheStreet upgraded Pegasystems from a c rating to a b- rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Pegasystems currently has an average rating of Buy and an average price target of $79.20.

PEGA stock traded down $0.62 during trading on Tuesday, hitting $68.36. 2,763 shares of the company’s stock were exchanged, compared to its average volume of 371,074. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 3,758.50 and a beta of 1.42. Pegasystems has a 52-week low of $43.21 and a 52-week high of $76.49.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.24). The business had revenue of $212.50 million for the quarter, compared to analysts’ expectations of $237.63 million. Pegasystems had a return on equity of 0.34% and a net margin of 1.19%. Pegasystems’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. Research analysts predict that Pegasystems will post -0.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date was Friday, March 29th.

In other Pegasystems news, CAO Efstathios A. Kouninis sold 465 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $65.50, for a total value of $30,457.50. Following the completion of the sale, the chief accounting officer now owns 1,527 shares in the company, valued at $100,018.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Efstathios A. Kouninis sold 515 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $66.00, for a total value of $33,990.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,403 shares of company stock valued at $3,421,274. 52.85% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC increased 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 during the period. Parallel Advisors LLC increased its holdings in shares of Pegasystems by 46.1% in the fourth quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock valued at $37,000 after purchasing an additional 250 shares during the period. Lloyds Banking Group plc acquired a new position in shares of Pegasystems in the fourth quarter valued at approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Pegasystems by 22.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock valued at $130,000 after purchasing an additional 495 shares during the period. Finally, We Are One Seven LLC acquired a new position in shares of Pegasystems in the fourth quarter valued at approximately $140,000. Institutional investors own 47.86% of the company’s stock.

Pegasystems Company Profile

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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