Insider Selling: Pegasystems Inc. (NASDAQ:PEGA) Director Sells 15,271 Shares of Stock

Pegasystems Inc. (NASDAQ:PEGA) Director Richard H. Jones sold 15,271 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the transaction, the director now owns 371,787 shares of the company’s stock, valued at approximately $25,746,249.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Pegasystems Trading Down 3.0 %

Pegasystems stock traded down $2.00 during mid-day trading on Monday, hitting $65.03. The stock had a trading volume of 625,277 shares, compared to its average volume of 522,926. Pegasystems Inc. has a 12 month low of $37.66 and a 12 month high of $72.74. The stock has a market capitalization of $5.53 billion, a PE ratio of 78.93 and a beta of 1.08. The stock has a 50-day simple moving average of $60.08 and a two-hundred day simple moving average of $59.75.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The business had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. During the same quarter last year, the firm earned ($0.41) EPS. Pegasystems’s revenue for the quarter was up 17.7% compared to the same quarter last year. Sell-side analysts expect that Pegasystems Inc. will post 1.55 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.03 per share. The ex-dividend date was Monday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. Pegasystems’s payout ratio is 14.63%.

Hedge Funds Weigh In On Pegasystems

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Pegasystems by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,369,237 shares of the technology company’s stock valued at $347,067,000 after purchasing an additional 250,273 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Pegasystems in the first quarter worth approximately $1,161,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Pegasystems by 3.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after purchasing an additional 31,925 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Pegasystems by 309.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 130,281 shares of the technology company’s stock worth $8,422,000 after purchasing an additional 98,465 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Pegasystems by 6.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 49,541 shares of the technology company’s stock valued at $3,202,000 after acquiring an additional 2,831 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a research report on Monday, July 29th. DA Davidson lifted their price target on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their price objective on shares of Pegasystems from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Citigroup dropped their price target on shares of Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.60.

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.