Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Director Sells $608,800.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $60.88, for a total value of $608,800.00. Following the completion of the transaction, the director now directly owns 369,658 shares in the company, valued at approximately $22,504,779.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pegasystems Stock Performance

Shares of PEGA opened at $59.55 on Friday. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $69.26. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 72.62 and a beta of 1.05. The stock has a fifty day moving average of $62.49 and a 200-day moving average of $53.62.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The company had revenue of $474.23 million during the quarter, compared to analysts’ expectations of $428.76 million. As a group, equities analysts forecast that Pegasystems Inc. will post 1.5 EPS for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Thursday, March 28th. Pegasystems’s payout ratio is 14.63%.

Wall Street Analyst Weigh In

PEGA has been the topic of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $75.00 target price on shares of Pegasystems in a research report on Tuesday, April 23rd. StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. Barclays increased their price target on Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $60.00 target price on shares of Pegasystems in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in Pegasystems by 80.1% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after purchasing an additional 226 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Pegasystems by 219.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Headlands Technologies LLC bought a new position in Pegasystems during the 4th quarter worth $26,000. Harvest Fund Management Co. Ltd bought a new position in Pegasystems during the 4th quarter worth $44,000. Finally, CWM LLC raised its position in Pegasystems by 80.1% during the 3rd quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after purchasing an additional 516 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

About Pegasystems

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.