Pegasystems (PEGA) Reaches New 1-Year High at $67.99

Pegasystems Inc. (NASDAQ:PEGA) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $67.99 and last traded at $66.28, with a volume of 6904 shares changing hands. The stock had previously closed at $67.56.

PEGA has been the topic of a number of research analyst reports. BidaskClub upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Wednesday. TheStreet upgraded Pegasystems from a “c” rating to a “b-” rating in a report on Friday, March 22nd. Wedbush reiterated an “outperform” rating and set a $84.00 target price (up previously from $80.00) on shares of Pegasystems in a report on Wednesday, February 27th. Finally, Zacks Investment Research upgraded Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 target price on the stock in a report on Tuesday, February 19th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.33.

The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 3,356.00 and a beta of 1.38.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, February 20th. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.20. Pegasystems had a return on equity of 0.34% and a net margin of 1.19%. The firm had revenue of $256.36 million for the quarter, compared to the consensus estimate of $252.71 million. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts expect that Pegasystems Inc. will post -0.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.18%.

In related news, CAO Efstathios A. Kouninis sold 465 shares of the company’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 sale, the chief accounting officer now owns 1,527 shares in the company, valued at approximately $100,018.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Jones sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.89, for a total value of $1,622,250.00. Following the completion of the sale, the director now owns 297,537 shares in the company, valued at approximately $19,307,175.93. The disclosure for this sale can be found here. Insiders sold a total of 56,580 shares of company stock worth $3,603,473 in the last 90 days. 52.85% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Pegasystems by 46.1% in the 4th quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock valued at $37,000 after acquiring an additional 250 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Pegasystems by 22.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock valued at $130,000 after acquiring an additional 495 shares in the last quarter. SG Americas Securities LLC lifted its position in Pegasystems by 17.9% in the 4th quarter. SG Americas Securities LLC now owns 4,159 shares of the technology company’s stock valued at $199,000 after acquiring an additional 631 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in Pegasystems by 25.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,140 shares of the technology company’s stock valued at $237,000 after acquiring an additional 1,048 shares in the last quarter. Finally, Barclays PLC lifted its position in Pegasystems by 10.9% in the 4th quarter. Barclays PLC now owns 12,367 shares of the technology company’s stock valued at $592,000 after acquiring an additional 1,217 shares in the last quarter. Institutional investors own 48.08% of the company’s stock.

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Pegasystems Company Profile (NASDAQ:PEGA)

Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.

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