Barclays Trims Pegasystems (NASDAQ:PEGA) Target Price to $110.00

Pegasystems (NASDAQ:PEGA) had its price target lowered by Barclays from $140.00 to $110.00 in a research note published on Wednesday, The Fly reports.

Pegasystems stock opened at $99.53 on Wednesday. The business has a fifty day moving average of $111.83 and a two-hundred day moving average of $124.64. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.07 and a current ratio of 2.07. Pegasystems has a twelve month low of $94.47 and a twelve month high of $148.80.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, October 27th. The technology company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.13). Pegasystems had a negative net margin of 1.82% and a negative return on equity of 12.96%. The business had revenue of $256.27 million for the quarter, compared to analysts’ expectations of $275.32 million. During the same quarter in the prior year, the company posted ($0.60) EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts forecast that Pegasystems will post -0.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 17th. Investors of record on Monday, January 3rd will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Friday, December 31st. Pegasystems’s payout ratio is -41.38%.

In related news, CAO Efstathios A. Kouninis sold 500 shares of the firm’s stock in a transaction dated Friday, December 17th. The shares were sold at an average price of $106.00, for a total value of $53,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Michael R. Pyle sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $118.66, for a total transaction of $118,660.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,931 shares of company stock worth $333,975. 50.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in Pegasystems by 27.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 379,221 shares of the technology company’s stock valued at $52,784,000 after purchasing an additional 81,699 shares during the last quarter. Psagot Investment House Ltd. purchased a new stake in shares of Pegasystems during the 2nd quarter worth $290,000. Susquehanna Fundamental Investments LLC lifted its position in shares of Pegasystems by 13.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 16,537 shares of the technology company’s stock worth $2,302,000 after purchasing an additional 1,937 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Pegasystems by 5.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,693 shares of the technology company’s stock worth $514,000 after purchasing an additional 189 shares during the last quarter. Finally, Insight Advisors LLC PA lifted its position in Pegasystems by 42.7% in the second quarter. Insight Advisors LLC PA now owns 2,816 shares of the technology company’s stock valued at $358,000 after acquiring an additional 842 shares during the last quarter. 47.78% of the stock is currently owned by institutional investors and hedge funds.

About Pegasystems

Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. The company was founded by Alan Trefler in 1983 and is headquartered in Cambridge, MA.

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