BidaskClub lowered shares of Pegasystems (NASDAQ:PEGA) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Pegasystems from a strong sell rating to a hold rating and set a $67.00 price objective for the company in a report on Tuesday, February 19th. Wedbush reissued an outperform rating and set a $84.00 price objective (up from $80.00) on shares of Pegasystems in a report on Wednesday, February 27th. Finally, ValuEngine raised shares of Pegasystems from a buy rating to a strong-buy rating in a report on Friday, November 30th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Pegasystems presently has an average rating of Buy and a consensus price target of $74.33.

Shares of Pegasystems stock opened at $63.74 on Thursday. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 3,187.00 and a beta of 1.39. Pegasystems has a 52-week low of $43.21 and a 52-week high of $67.95.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, March 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.19%.

In other news, VP Michael R. Pyle sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 465 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $65.50, for a total transaction of $30,457.50. Following the transaction, the chief accounting officer now directly owns 1,527 shares of the company’s stock, valued at $100,018.50. The disclosure for this sale can be found here. Insiders have sold 57,006 shares of company stock valued at $3,586,498 over the last three months. 52.85% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PEGA. SG Americas Securities LLC grew its position in Pegasystems by 68.8% during the 3rd quarter. SG Americas Securities LLC now owns 3,528 shares of the technology company’s stock worth $221,000 after acquiring an additional 1,438 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Pegasystems by 2.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 162,607 shares of the technology company’s stock valued at $10,179,000 after buying an additional 3,557 shares during the last quarter. BlackRock Inc. boosted its position in Pegasystems by 2.7% in the 3rd quarter. BlackRock Inc. now owns 1,697,950 shares of the technology company’s stock valued at $106,293,000 after buying an additional 45,356 shares during the last quarter. Bahl & Gaynor Inc. boosted its position in Pegasystems by 2.1% in the 3rd quarter. Bahl & Gaynor Inc. now owns 54,694 shares of the technology company’s stock valued at $3,424,000 after buying an additional 1,148 shares during the last quarter. Finally, FMR LLC boosted its position in Pegasystems by 6.7% in the 3rd quarter. FMR LLC now owns 1,000,499 shares of the technology company’s stock valued at $62,631,000 after buying an additional 62,385 shares during the last quarter. Institutional investors own 47.50% of the company’s stock.

About Pegasystems

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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